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DMO to Sell N70 Billion Bond

06 Sep 2013

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Dr. Abraham Nwankwo, DG, DMO

The Debt Management Office (DMO) has disclosed plans to sell N70 billion bond next week Wednesday.

The debt instrument, which would be N35 billion apiece has maturities of three and 20 years respectively.

The DMO disclosed this in a circular titled: “September 2013 FGN Bond Circular,” posted on its Website on Wednesday. Settlement for the fixed income instrument would be on September 13.

It also said  the issuance of the bonds would be through the Dutch Auction System (DAS), adding  the bonds would be re-openings of previous issues.
The DMO said the three-year bonds would be issued at 13.05 per cent yield rate, while the 20-year bond would be issued at 13.48 per cent yield rate.

The Director-General, Debt Management Office, Dr. Abraham Nwankwo, had said debt office would introduce some other products in the near-term.

“The inflation-linked bond, we are working on it and I believe that in the near-term, that should come to fruition. Of course, the other flexibility arrangement we talked about, including the securities lending, will certainly come on stream before the end of the first half of 2014. So, many of these products are coming in the near-to-medium,” he added.

Tags: Business, Nigeria, Featured, DMO, Bond

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