FRI JAN 24 2025-theGBJournal| The Debt Management Office of Nigeria announced on Thursday, plans to raise a total of N450 billion from the issuance of Federal Government of Nigeria (FGN) Bonds with auction date set for January 27, 2025.
The bonds offer is the first major issue of the year and, the settlement date is scheduled for January 29, 2025.
The plan, according to a document released by the DMO, include N200 billion 10-year paper due January 2025, N100 billion and N150 billion through 5-year and 7-year re-opening offer respectively.
Both offers are due in April 2029 and February 2031, and priced at 19.30% and 18.50% respectively.
The DMO said; For Re-openings of previously issued bonds, (where the coupon is already set), successful bidders will pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned, plus any accrued interest on the instrument.
The FGN Bonds are backed by the full faith and credit of the Federal Government of Nigeria and are charged upon the general assets of Nigeria.
In 2024, the DMO raised a total of N5.46 trillion from the bond market.
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