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N 89.7 Billion bonds up for Auction Wednesday

By on January 24, 2012

The Debt Management Office (DMO) stated yesterday that the Federal Government will auction N 89.7 billion worth of  bonds on Wednesday.

The 10 year sovereign bonds consist of re-issues and fresh issues. The fresh issues are due for redemption in January 2022.

N 19.75 Billion in bonds will mature in May 2018, and two tranches of N 35 billion bonds due in October 2019 and January 2022.

The DMO had revealed last week that the government will auction bonds valued between N129.75bn and N239.75bn in Q1, 2012 in order to plug the deficit gap.