DMO to Raise N135b from Bond Auction Wednesday

August 20, 2017
Savings Bond

By Modupe Gbadeyanka

On Wednesday, August 23, 2017, the Federal Government, through the Debt Management Office (DMO), will sell N135 billion worth of bonds.

The exercise, to be carried out at the primary market auction, will see the debt office offering bonds comprising N35.00 billion of the FGN JUL 2021 bond and N50.00 billion each of the FGN MAR 2027 and FGN APR 2037 bonds.

According to a circular issued last Tuesday by the DMO, all the bonds on offer are reopening of previous issues.

Observers hope demand, in the auction, will broadly reflect liquidity position, with investors in the secondary market taking a cue from the auction stop.

Monthly, Federal Government issues sovereign bonds to support the local bond market.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

Leave a Reply

Lassa Fever ogun
Previous Story

NCDC Investigates Reports of ‘Strange Illness’ in Kogi

N62.4b Bills Mature via Primary Market
Next Story

N62.4b Bills Mature via Primary Market

Latest from Economy

Don't Miss