Domestic Bonds

FG’s January bonds oversubscribed by N175bn -DMO

Federal government bonds for January worth N150 billion, which were auctioned on January 19, were oversubscribed by N175.24 billion, the Debt Management Office said.

The DMO said on Friday that the total subscription received from investors was N325.24 billion.

He reported that a subscription of 11.19 billion naira had been received for the 12.50% FGN bonds of January 2026 and 214.05 billion naira for the 13% FGN bonds of January. 2042, which recorded the highest subscription.

The debt office said a total of 170.64 billion naira had been allocated, comprising 81.72 billion naira and 88.92 billion naira.

He said: “The winning bids for the 12.50% FGN January 2026 and 13% FGN January 2042 were awarded at the marginal rates of 11.50% and 13%, respectively.

“However, the original coupon rates of 12.5000% for the 12.5000% FGN January 2026 will be maintained, while the coupon rate for the 13% FGN January 2042 (new issue) is set at 13 %.”

The DMO previously released its bond issuance schedule for the first quarter of 2022, with auction dates of January 19, February 16 and March 23.

The federal government planned to acquire about N480 billion of new borrowed capital from the domestic capital market in the first quarter of 2022, according to its bond issuance schedule.

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