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Home Markets Fixed Income Securities

DMO offers N150 billion worth of FGN Bond for subscription in January 2021

Chidi Emenike by Chidi Emenike
January 15, 2021
in Securities, Spotlight
Debt Management Office resumes FGN savings bond offer on August 10, Eurobonds, Patience Oniha, DMO, External debt servicing

Patience Oniha, Director General, Debt Management Office

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The Debt Management Office (DMO) has announced the offer for subscription, Federal Government Bonds (FGN Bonds), valued at N150 billion for January 2021.

This is according to a notification released by the DMO and seen by Nairametrics. The latest offers come in three tranches:

  • N50, 000,000,000 – 16.2884% FGN MARCH 2027 (10-Year Re-opening).
  • N50, 000,000,000 – 12.50% FGN MARCH 2035 (15-Year Re-opening).
  • N50, 000,000,000 – 9.80% FGN JULY 2045 (25-Year Re-opening).

Other key highlights of the recent offer

RelatedPosts

Nigeria’s unclaimed dividends rises to N180 billion

Retail investors with as low as N5,000 can now invest in FG Bonds

  • Units of Sale: N1, 000 per unit subject to a minimum subscription of N50,001,000 and in multiples of N1,000 thereafter.
  • Auction Date: January 20, 2021.
  • Settlement Date: January 22, 2021.
  • Interest Payment: Payable semi-annually.

What you should know

  • Checks by Nairametrics revealed that the latest FGN Bond offer across three maturities is N90billion more than amount offered in the previous month (December 2020) at N60billion, indicating an increase of 150%.
  • Interested investors were advised to contact offices of any of the listed 13 Primary Dealer Market Makers (PDMMs).
  • The DMO reserves the right to alter the amount allotted in response to market conditions.
  • FGN Bonds are debt securities (liabilities) of the Federal Government of Nigeria (FGN), issued by the Debt Management Office (DMO) for and on behalf of the Federal Government. The FGN has an obligation to pay the bondholder the principal and agreed interest as and when due.

Related

Tags: Debt Management OfficeDMO

Comments 2

  1. Anonymous says:
    January 19, 2021 at 5:49 pm

    Please who are these primary market makers.i would want to know so that I can approach them

    Reply
  2. ETEKA OKON UKPONG says:
    January 19, 2021 at 5:55 pm

    Who are the primary market dealer/makers.

    Reply

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