By Dipo Olowookere
The Debt Management Office (DMO) said the FGN Bond auction for August 2018 it conducted on Wednesday was oversubscribed by investors.
During the exercise that precisely took place on Wednesday, August 15, 2018, the debt office, on behalf of the Nigerian government, offered bonds worth N90 billion to market players.
These government’s debt instruments were offered in three tenors; 5 years, 7 years and 10 years, and they were oversubscribed.
A statement issued by the debt office said the total subscriptions received from bidders at the auction were above N100 billion.
Allotments were made to successful bidders at 14.39 percent for the 5-year, 14.60 percent for the
7-year and 14.69 percent for the 10-year bond, which are consistent with the rates in the secondary market for the bonds offered at the exercise.
“A total of N100.09 billion was allotted to competitive and non-competitive bidders at the auction,” DMO said in the statement.
It stated further that proceeds from the exercise “will provide additional financing for the implementation of the 2018 Appropriation Act.”
more recommended stories
I&E Records $200m Turnover Monday as Panic Persists
**Naira Trades 360.50/$ at I&E FX.
Nigeria Must Act Fast to Avert Serious Food Disaster—ICC Nigeria
The need for federal government of.
SEC Lied, Never Gave us Fair Hearing—Oando Insists
By Dipo Olowookere Embattled Nigerian energy.
T-Bills Yields Jump 0.11% on Sell Pressure
By Dipo Olowookere The secondary market.
Equities Post 0.37% Loss Despite Rise in Trades
By Dipo Olowookere The nation’s bourse.
Nigeria’s Inflation Rises to 11.40% in May as Food Index Jumps to 13.79%
By Modupe Gbadeyanka The National Bureau.
Edo Moves to Boost Tax Compliance
The Edo State Governor, Mr. Godwin.
N2.20 Dividend Payment Excites VFD Group Shareholders
VFD Group Plc has approved N251.5.