Federal Government Offers N7.15 Trillion Bond for October Subscription
The Federal Government of Nigeria, through the Debt Management Office (DMO), has announced its intention to offer a N7.15 trillion bond for subscription in October.
Details of the Bond Offer
- The bond offer consists of three tranches: N500 billion for February 2034 (10-year reopening) bond with a 19% interest rate.
- N800 billion for September 2036 (10-year reopening) bond with a 16.79% interest rate.
- N450 billion for June 2038 (15-year reopening) bond with a 15.45% interest rate.
Subscription Procedures
The Federal Government is inviting interested investors to participate in the bond subscription. The minimum subscription amount is N50,000,100, while the units of sale are at N1,000 per unit, subject to a minimum subscription of N50,000,100.
Interest on the bond is semi-annual, while the bullet repayment is on the maturity date.
DMO Explains Bond Offer
The Debt Management Office (DMO) has provided further details about the bond offer, stating that the interest rate for the February 2034 bond is 19%, the September 2036 bond has an interest rate of 16.79%, and the June 2038 bond has an interest rate of 15.45%.
</body> </html><small>Source: Vanguard News — read the original story there.</small>
