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Nigeria to sell N90bn worth of bond

06 February 2014, 16:00

Lagos - Lagos -The Debts Management Office ((DMO) said on Thursday that it would sell N90 billion in three-year and 20-year Federal Government bonds.

The DMO said in its ‘February 2014 FGN Bond Offer Circular that the bonds would mature in August 2016 and July 2030 respectively.

It also said that both would be auctioned on Febuary12, and with settlement dates of Febuary14.

 The sale is the second monthly debt auction for 2014.

DMO also said the N90 billion worth of bonds comprises N45 billion of three-year paper and N45 billion in the 20-year paper, adding that the two bonds were re-opened.

The DMO said that the 2016 and 2030 instruments attracted 13.05 percent and 10.00 percent, respectively, as coupon rate.

 DMO on January issued two tranches of Federal Government bonds totaling N90 billion to investors.

 The bonds have tenors of between three and 20 years with coupon rate of 10.5 percent and 12.00 percent respectively.

-    NAN

Tags lagos bonds

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