Capital

DMO Raises N66.9bn at the July 2018 FGN Bond Auction

July 27, 2018/DMO

As part of the capital raising for the 2018 Budget, the Debt Management Office (DMO) raised N66.9 billion at the FGN Bond Auction on July 25, 2018.

At the Auction, the DMO offered FGN Bonds in three tenors of 5, 7 and 10 years to give its diverse investor base an opportunity to choose their preferred tenors. Investors showed a strong preference for the 10-year Bond with a total subscription of N50.51 billion compared to the N40 billion that was offered.

The FGN Bonds at the Auction were allotted at 13.69 per cent for the 5- year, 14.00 per cent for the 7-year and 14.2999 per cent for the 10-year Bond.

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