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DMO Raises N66.9bn In July 2018 FGN Bond Auction

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Nigeria’s Debt Management Office (DMO) announced that it raised N66.9 billion at the FGN Bond Auction that offered on July 25, 2018.
It made the announcement in a released statement yesterday.
The federal government is seeking to raise capital to finance deficit in her 2018 budget.
At the latest Auction, the DMO offered FGN Bonds in three tenors of 5, 7 and 10 years, an action the debt office said was to give its diverse investor base an opportunity to choose their preferred tenors.
Investors showed a strong preference for the 10-year bond with a total subscription of N50.51 billion compared to the N40 billion that was offered.
The FGN Bonds at the Auction were allotted at 13.69 per cent for the 5-year, 14.00 per cent for the 7-year and 14.2999 per cent for the 10-year Bond.

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