Nigeria raises N125 billion bonds to mature in 2020, 2026, 2036, says DMO

The Federal Government on Wednesday at an auction raised N125 billion worth of bonds to mature in 2020, 2026 and 2036, the Debt Management Office (DMO) has said.

According to DMO’s auction result obtained from its website on Friday, it sold N20 billion of 2020 paper at 11.33 per cent, lower than the 12.19 per cent auctioned in February.

It also sold N40 billion of 2026 paper at 12.09 per cent, lower than 12.39 per cent in February and N40 billion of newly issued 2036 paper at 12.40 per cent.

The summary stated that N5 billion of the 15.54 per cent February 2020 bonds and N20 billion of the 12.50 per cent January 2026 bonds were allotted on non-competitive basis.

Subscriptions from investors for the February 2020 bond, which was reopened, stood at N72.559 billion, while that of January 2026, which was also reopened, stood at N89.358 billion.

Also, subscriptions for the March 2036 bond stood at N100.529 billion.