FGN bonds offer investors 12.50%, 12.75%, 12.98% to be opened April 22
The Debt Management Office says ₦60 billion worth of Federal Government bonds will be up for a subscription on April 22.
Based on their respective tenors, the bonds are to be offered for subscriptions at different rates. DMO on its website indicates that the 5-year re-opening bonds of ₦20 billion to mature in April 2023 offer rate is 12.75%.
Also, 15-year re-opening bonds of ₦20 billion to mature in March 2035 would be auctioned at 12.50%. It added that the ₦20 billion 30-year bonds, due in April 2050, would be auctioned at 12.98%. DMO said the bond will be quoted at ₦1, 000 per unit.
This is subject to a minimum subscription of ₦50 million and in multiples of ₦1,000 thereafter. It explained that the instruments are backed by the full faith and credit of the Nigerian Government.
Meanwhile, interest on bonds will be paid semi-annually to bondholders. The issuing entity said bullet repayment will be made on the maturity date.
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FGN bonds offer investors 12.50%, 12.75%, 12.98% to be opened April 22
