The Debt Management Office (DMO) on behalf of the Federal Government of Nigeria (FGN) has announced September bonds offers for subscriptions.

This was contained in a circular that was made available to newsmen in Abuja on Monday 16th September 2019. Financial Metrics Nigeria reports that the September Bonds offers are in three different categories.

FG plans to sell a 5-Year bond valued at N45bn with 12.75% interest rate. It will also sell 10-Year Re-opening N50bn FGN bond at 14.55% rate. Then finally 30-Year Re-opening N55bn bond with 14.80% interest rate.

Financial Metrics Nigeria garnered that the Bonds Auction date is on Wednesday, September 25, 2019, while the Settlement date is on Friday, September 27, 2019.

Access Bank, First Bank, UBA, Zenith Bank, Guaranty Trust Bank, FBNQues are among the designated Banks to sell the Bonds.

Financial Metrics Nigeria reports that the bonds’ interests will be payable semi-annually. Investors have no calls for alarm as the bonds is fully backed by the FG and their investments are fully secured and interests payment are also guaranteed.

Investors are also notified that the Debt Management Office (DMO) reverses the right to alter the amount allotted based on market responses and swifts.


Source: https://financialmetricsnigeria.com/240-2/