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DMO plans to raise N100b bond in July

10 July 2014, 21:27

Lagos - The Debt Management Office (DMO) says it plans to raise N100 billion worth of bond in three categories in July.

According to DMO, the three bonds are in 20-year; 10-year and three-year bond categories.

The DMO said that it would issue N35billion worth of the 20-year bond; N50 billion for 10-year and N15 billion worth in the three-year bond category.

It also said that the three categories would mature in July 2034, March 2024 and August 2016 respectively.

It said that the 10-year and three-year bonds, which could be re-opened, had coupon rates of 14.20 per cent and 13.05 percent.

The DMO, however, added that the coupon rate for the 20-year bond had not been determined because it was a new bond.

It said that the bonds would be auctioned on July 16 while settlement date would be on July 18.

-     NAN

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