By Modupe Gbadeyanka
A total of N87.77 billion was realised on Wednesday from the bond auction exercise carried out by the Debt Management Office (DMO) on behalf of the Federal Government.
Business Post reports that the debt office, at the exercise yesterday, received a total subscription of N105.39 billion from investors.
But of out of this, the DMO only allotted bonds worth N87.77 billion to investors with rates lower than the previous sales.
Details of the bond auction released by the DMO on its website showed that the FGN JUL 2021 note, offered at 14.50 percent, was eventually sold at 14.79 percent, while the FGN MAR 2027 paper, offered at 16.29 percent, was sold at 14.80 percent.
Our correspondent further reports that the FGN JUL 2021 bond, which was offered at N50 billion, received a total subscription of N23 billion, while the 10-Year tenor had a total subscription of N82.39 billion from traders.
Meanwhile, the bond market traded with mixed sentiments yesterday, but closed positive with the average yields growing marginally by one basis point to 14.61 percent.
