Lagos - The Debts Management Office ((DMO) said on Monday that it would sell N70 billion in five-year and 10-year Federal Government bonds.
The DMO said in its ‘March 2013 FGN Bond Offer Circular’ posted on its website that the bonds would mature in April 2017 and January 2022, respectively.
It also said that both would be auctioned on March 13, and with settlement dates of March 15, this year.
The News Agency of Nigeria (NAN) reports that the sale is the third monthly debt auction for 2013.
It also said that it would sell N35 billion of five-year paper and N35 billion in the 10-year paper, adding that the two bonds were re-opened.
The DMO said that the 2017 and 2022 instruments attracted 15.10 per cent and 16.39 per cent, respectively, as coupon rate.
NAN recalls that the DMO on Feb.13 issued three tranches of Federal Government bonds totaling N105 billion to investors.
NAN also reports that the bonds have tenors of between five and 20 years.
In its February bond auction summary posted on its Website, the DMO said that the five, seven and 10-year tenor bonds would mature on April 27, 2017, and June 29, 2019, respectively.
A breakdown of the offers showed that the five-year and seven-year bonds are worth N5 billion each, while the 10-year and 20-year bonds were worth N15 billion and N20 billion, respectively.