Home Finance DMO offers N85bn bonds for sell

DMO offers N85bn bonds for sell

by Business News Report

The Debts Management Office ((DMO) says it will  sell Federal Government bonds worth N85 billion. The DMO said in a statement titled “June 2013 FGN Bond Offer Circular’’ posted on its website that the bonds to be sold include two five-year and a 20-year paper. According to the statement, the first of the five-year bonds worth N25 billion will mature in April 2015 and the other worth N35 billion will mature in April 2017.

It also said that the 20-year bonds worth N25 billion would mature in July 2030, adding that all the three bonds were reopened. The DMO said the 2015, 2017 and 2030 instruments attracted 4 per cent, 15 per cent and 10 per cent interest, respectively at coupon rate. The sale is the sixth monthly debt auction for 2013.

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