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N150 billion worth of FGN’s Bond Up for Subscription in February – DMO

February 12, 2021
in News, Economy, Finance
Reading Time: 2 mins read
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N150 billion worth of FGN's Bond Up for Subscription in February - DMO
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The Debt Management Office (DMO) has announced the offer for subscription of the Federal Government Bonds (FGN Bonds), valued at N150 billion for February 2021.

FGN Bonds are debt securities (liabilities) of the Federal Government of Nigeria (FGN), issued by the Debt Management Office (DMO) for and on behalf of the Federal Government.

This offer was disclosed in a circular released by the DMO and seen by TheNewsBeam.

The offers come in three tranches:

– N50,000,000,000 – 16.2884% FGN MAR 2027 (10-Yr Re-opening)

– N50,000,000,000 – 12.50% FGN MAR 2035 (15-Yr Re-opening)

– N50,000,000,000 – 9.80% FGN JUL 2045 (25-Yr Re-opening)

Other key highlights of the recent offer:

Units of Sale: N1,000 per unit subject to a minimum subscription of N50,001,000 and in multiples of N1,000 thereafter.

Auction Date: February 17, 2021

Settlement Date: February 19, 2021.

However, Interested investors were advised to contact offices of any of the listed 13 Primary Dealer Market Makers (PDMMs).

Which are: Access Bank Plc, First Bank of Nigeria Ltd, Standard Chartered Bank Nigeria Ltd., Citibank Nigeria Ltd., First City Monument Bank Plc., United Bank for Africa Plc., Coronation Merchant Bank Ltd. FSDH Merchant Bank Ltd. Zenith Bank Plc., Ecobank Nigeria Ltd., Guaranty Trust Bank Plc., FBNQuest Merchant Bank Ltd., and Stanbic IBTC Bank Plc.

Also, investors should be informed that the DMO reserves the right to alter the amount allotted in response to market conditions.

Read Also: FEC Approves New Strategy to Guide Government’s Borrowings

Tags: 2021BondFebruaryFGNN150 billionSubscription
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