The Federal Government said it would offer N150bn bonds for subscription in May.
This was disclosed by the Debt Management Office on Tuesday in a circular on its website showed that the breakdown of bonds comprised three bonds worth N50bn each.
They are 10-year reopening bond to be offered at the rate of 16.2884 per cent and to mature in March 2027; a 15- year reopening bond to be offered at 12.5 per cent and mature in March 2035; and a 30-year reopening bond to be offered at 14.8 per cent and mature in April 2045.
According to the DMO, the bonds which will be auctioned on May 19, 2021\, have a settlement date of May 21, 2021.
The DMO had earlier disclosed that Federal Government’s bonds offered for the month of April worth N60bn were over oversubscribed by N215.67bn.
The total subscription received from investors for the bonds was N275.67bn, comprising N49.7bn for 12.75 per cent FGN April 2023 bonds; N107.47bn for 12.5000 per cent FGN March 2035 bonds; and N118.5bn for 12.9800 per cent FGN March 2050 bonds.
The auction result showed that the total bids were 50, 65 and 85, while the successful bids were 26, 29 and 32 for the three bonds allotted.