• Home
  • News
  • Investors Oversubscribe N150bn FGN Bond
Image

Investors Oversubscribe N150bn FGN Bond

Following the previous months, the subscribers showed a strong appetite for FGN bonds as the Debt Management Office (DMO) conducted the monthly Auction of FGN Bonds recently.

Hence, the three instruments (five-year, ten-year and 30-year bonds) with a total face value of N150 billion, were offered to investors at the auction.

The DMO disclosed the total subscriptions received from competitive bids for the instruments were N160.90 billion.

In addition, there were non-competitive bids of N46.60 billion, taking the total subscription received (competitive and non-competitive) to the sum of N207.50 billion.

As in previous auctions, investor sentiments remained strong for the longer-tenored bonds.

Subscriptions received from competitive bids for the 10-year and 30-year bonds were N82.91 and N63.66 billion, compared with the amount offered for the N50 billion and N55 billion, for the two instruments, respectively.

Allotments were made to successful bidders at 14.3900 per cent for the five-year, 14.4300 per cent for the 10-year and 14.6400 per cent for the 30-year bonds. The amount allotted to competitive bidders for the three instruments was N100 billion, while the sum of N46.60 billion was allotted to non-competitive bidders.

Overall, the total amount allotted at the Auction was N146.60 billion.

Source: Reuters

 

 

Releated Posts

Nigeria: Moghalu appointed Academy of International Affairs fellow

Professor Kingsley Moghalu, President of the Institute for Governance and Economic Transformation (IGET) and CEO of Sogato Strategies…

ByByInstinctBusinessMar 28, 2024

Kenya: DTB boosts dividend amid Sh6.8bn profit growth

Diamond Trust Bank (DTB) Group has raised its dividend payout to a record of Sh6 per share for…

ByByInstinctBusinessMar 28, 2024

Nigeria: Access Corporation Reports Record-Breaking N612.4 Billion Profit

Access Corporation, Nigeria’s leading finance holding company, has announced a remarkable achievement with a profit after tax of…

ByByInstinctBusinessMar 28, 2024

Ghana: Herbert Krapa named ECG’s new board chairman

President Nana Akufo-Addo has appointed Deputy Energy Minister, Herbert Krapa, as the new Board Chair of the Electricity…

ByByInstinctBusinessMar 27, 2024

Leave a Reply

Your email address will not be published. Required fields are marked *