Nairametrics| The Debt Management Office has announced a new round of FGN Savings Bond set for May 8 2017 and will close May 12 2017. The 2 year bond will be offered at an interest of 13.189% and 14.189% for a 3 year bond compared to 12.794% and 13.794% offered respectively in the last auction.
The FGN Savings bond still offers a lower yield when compared to Treasury Bills. One year treasury bills sold at 18.8% last week.
See offer details below;
Summary of May 2017 Offer
2-Year FGN Savings Bond due May 17, 2019: 13.189%
3-Year FGN Savings Bond due May 17, 2020: 14.189%
Opening Date: May 8, 2017
Closing Date: May 12, 2017
Settlement Date: May 17, 2017
ISSUER: Federal Government of Nigeria (“FGN”)
UNITS OF SALE: N1,000 per unit subject to a minimum Subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50,000,000.
INTEREST PAYMENT: Payable Quarterly
REDEMPTION: Bullet repayment on the maturity date