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FG to raise up to N 240 billion in Sovereign Bonds during Q1, 2012

By on January 20, 2012

The Federal Government has revealed through the Debt Management Office (DMO) that it intends to raise up to N 240 billion from the capital markets in Q1, 2012.

The DMO will seek to raise between N 129.75 billion and N 239.75 billion in 10-year sovereign bonds before March 30th, 2012.

The DMO explained the reason for the capital raising as necessary to “plug the revenue gap” in 2012.

According to a statement issued from the authority, “The debt office will auction between N79.75bn and N99.75bn in 10-year bonds of various maturity dates in January, N60 to N80bn in February and N50bn to N60bn in March of the same tenor.”

The DMO explained that all the issues would be re-openings except for fresh issues of N 30 billion to N 40 billion in January.