By Dipo Olowookere
Federal government of Nigeria is today, Wednesday, February 20, 2019, selling bonds worth N150 billion to investors.
The exercise will be conducted by the Debt Management Office (DMO), with three different dated papers on offer.
According to the debt office, it would sell at 12.75 percent a five-year N50 billion worth of bonds maturing in April 2023.
Also, it would sell the seven-year N50 billion worth of the bonds maturing in March 2025 at 13.53 percent and the the 10-year bonds N50 billion worth of the bonds maturing in February 2028 at 13.98 percent.
Investors would be able to subscribe to the bonds at N1,000 per unit, subject to a minimum subscription of N50 million and in multiples of N1,000 thereafter.
Nigeria issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit.
The bonds were backed by the full faith and credit of the Nigerian government, with interest payable semi-annually to bondholders, while bullet repayment will be made on maturity date.
more recommended stories
Facebook NG_Hub Trains 50,800 SMBs in Digital Skills
By Modupe Gbadeyanka Not less than.
Asian Equities Finish Mute Despite Reprieve for Huawei
By Investors Hub Asian stocks ended.
European Shares Close Mixed as Investors Await Fed Outcome
By Investors Hub European stocks are.
Lingering Trade Worries to Stretch Wall Street Volatility
By Investors Hub The major U.S..
CBN to Control Banks’ Investment in Treasury Bills, Bonds
Modupe Gbadeyanka The Central Bank of.
Nigeria to Issue Second 30-year Naira Bond Today
By Dipo Olowookere The Debt Management.
NSE Index Gains 2.88% to Slice Year-to-Date Loss to 3.86%
By Dipo Olowookere The local equity.
30-Day T-Bills Yields Shrinks to 9.94%
By Dipo Olowookere The continued absence.