DMO to Raise N720 billion from Local Debt Market in Q3
Debt Management Office (DMO) has revealed a plan to borrow N720 billion in the third quarter of 2022 selling Federal Government Bonds to local investors, according to its latest calendar that details the issuance.
The third quarter calendar shows that the DMO will re-open nine previously issued FGN Bonds between July and September.
According to the calendar, on July 18, the DMO will re-open a 13 per cent, March 2025 FGN Bond valued at between N70 billion to N80 billion. It has a maturity date of two years, eight months, with an original 10-year tenor.
Also on July 18, the DMO will re-open a 12.5 per cent, April 2032 FGN Bond valued at between N70 billion to N80 billion. It has nine years, nine months term-of-maturity; with a 10-year original tenor.
The office will, again, re-open a 13 per cent, Jan. 2042 FGN Bond valued at between N70billion to N80 billion on the same date. It has 19 years, six months term-of-maturity, and an original tenor of 20-year.
On Aug. 15, the DMO will re-open the 13.53 per cent, March 2025 FGN Bond, valued at between N70billion to N80billion, with two years, seven months as term-of-maturity.
It has an original tenor of 10-year. On the same date, it will re-open the 12.50 per cent, April 2032 FGN Bond, valued at between N70billion to N80billion; with a term-of-maturity of nine years, eight months.
It has a 10-year original tenor. Again, on Aug. 15, it will re-open the 13 per cent, 2042 FGN Bond, valued at between N70billion to N80billion; with 19 years, five months as term-of-maturity. READ: Nigeria to Borrow N720 Billion in 3-Month
It has a 20-year original tenor. The calendar also shows that, on Sept. 19, the DMO will again re-open the 13.53 per cent, March 2025 FGN Bond, valued at between N70 billion to N80 billion.
It has two years, six months term-of-maturity and 10-year original tenor. Again, on Sept 19, the DMO will re-open 12.50, April 2032 FGN Bond valued at between N70 billion and N80 billion, with nine years, seven months as term-of-maturity.
It has a 10-year original tenor. On the same date, the office will, again, re-open the Jan. 2042 FGN Bond valued at between N70 billion to N8 billion; with 19 years, four months as term-of-maturity.
It has an original tenor of 20-year. Re-opened Bonds have the same maturity date and interest rate as the original bonds, but they are sold on different dates and usually at a different price.
The DMO, however, said that the calendar was provisional and could be subject to change at short notice. # DMO to Raise N720 billion from Local Debt Market in Q3
