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DMO’s January bond auction receives N300 billion oversubscription

DMO’s January bond auction receives N300 billion oversubscription

The Debt Management Office (DMO) says its just concluded Federal Government of Nigeria (FGN) bond auction for January was oversubscribed.

DMO, which made this known in a statement on Thursday, stated that the auction received a total of 160 bids, revealing some minor adjustments in the bonds offer during the auction.

“Our FGN bond auction for January 2022 concluded yesterday with a total of 160 successful bids.

“The auction recorded an over-subscription of N111 billion and N214  billion for the January 2026 and January 2042 bond offers respectively.

“Successful bids for 12.5 per cent FGN January 2026 and 13 per cent January 2042 were allotted at the marginal rates of 11.5 per cent and 13 per cent respectively.

“However,  the original coupon rates of 12.5 per cent  for the FGN January 2026 will be maintained while the coupon rate for 13 per cent FGN 2042 (New Issue) is set at 13 per cent,” it explained.

The DMO had recently released a bond issuance calender for the first quarter of 2022. 

(NAN)

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