Dmo To Auction N350bn Fg Bonds At N1,000/unit

The Debt ManagementOffice DMO said it will re-open two Federal Government Bonds, FGB, valued at N350 billion for auction, at a subscription rate of N1,000 per unit.

DMO disclosed this yesterday in a statement noting that the offers will be auctioned on April 28 and have their settlement date by April 30.

DMO also said that it is authorised to receive applications for bonds in two tranches, with the first being N200 billion for a five-year savings bond due to mature in April 2029, at 19.3 percent per annum.

According to the Office, the second tranche is N150 billion for a nine-year savings bond due to mature in May 2033, at an interest rate of 19.89 percent per annum.