• 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

 

 

Related Posts

FirstBank marks 130 years of banking resilience and excellence

The FirstBank Group, a prominent financial institution in Africa, recently commemorated its 130th anniversary. This milestone underscores its…

Ghana: Nana Esi Idun-Arkhurst reinforces Fidelity Bank’s dedication to supporting women entrepreneurs

Fidelity Bank, Ghana’s largest privately-owned bank, has restated its dedication to empowering women entrepreneurs at the Women in…

Ghana: Julie Essiam appointed as first female Commissioner-General of GRA

The Finance Ministry has revealed Julie Essiam as the newly appointed Commissioner-General of the Ghana Revenue Authority, marking…

Orange Digital Center, Coursera team up to offer Free Digital Skills Training

Orange Digital Center is launching a free high-level certification training program in partnership with Coursera, the world leader…

Leave a Reply

Your email address will not be published.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