N59.53bn Issued at FGN August Bond Auction – DMO

By Tony Obiechina, Abuja

The Debt Management Office (DMO) issued N59.53 billion at the August 2019 FGN Bond Auction held on Wednesday in Abuja for the three (3) Tenors offered to various investors who subscribed at the Auction.
According to a statement from the Office on Wednesday, “the DMO offered N40 billion for the 5-year, N50 billion for the 10-year and N55 billion for the 30-year Bonds. 
“Total subscriptions received from both Competitive and Non-Competitive bids amounted to N139.58 billion. 
“Demand for the 30-year Bond remained strong as has been the trend since the instrument was introduced to the market in April 2019. The total subscription for the Bond at the Auction was N64.71 billion.
“The strong demand from investors for the FGN Bonds offered at the Auction was in spite of the prevailing tight liquidity experienced in the financial markets.
“Allotments were made to successful bidders at the rate of 14.290% for the 5-year, 14.390% for the 10-year and 14.590% for the 30-year Bonds”.

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