DMO to sell N50bn worth of bonds on Dec. 9

The Debt Management Office (DMO) says it will raise N50 billion worth of bonds in two categories on Dec. 9.
The DMO disclosed this in its ‘Bond Circular’ posted on its Website on Thursday.

According to the circular, the two categories of bonds are the 10-year and five-year bonds.

The DMO said that it would issue N20 billion worth of the 10-year bonds and N30 billion of the five-year bonds.

It said the two categories of bonds would mature in March 2024 and February 2020, respectively.

The DMO said that the two categories of bonds would open with different coupon rates.

“The 10-year and five-year bonds would have coupon rates of 11.85 per cent and 11.73 per cent, respectively.’’
 It said that the bonds would be auctioned on Dec. 9, while the settlement date would be Dec. 11.