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FG to sell N90bn bonds on February 12

By on February 7, 2014

The Debts Management Office ((DMO) says it will sell N90 billion Federal Government bonds on Feb. 12
The DMO said this in its “February 2014 FGN Bond Offer Circular” posted on its Website on Thursday.

It said that the N90 billion worth of bonds comprised N45 billion three-year paper and N45 billion of 20-year paper

It said that the bonds would mature in August 2016 and July 2030, respectively.

The DMO said that the 2016 and 2030 instruments would attract 13.05 per cent and 10.00 per cent coupon rates, respectively.

The News Agency of Nigeria (NAN) reports that the sale is the second monthly debt auction for 2014.

The DMO, on Jan.15, issued two tranches of Federal Government bonds totaling N90 billion to investors.

The bonds had tenors of between three and 20 years with coupon rates of 10.5 per cent and 12.00 per cent, respectively. (NAN)