Nigeria to Borrow N720 Billion in 3-Month
Nigeria: The Debt Management Office (DMO) has released a schedule of local borrowings of about N720 billion by the Federal Government for the second quarter, according to the agency website.
The schedule is contained in the DMO’s “FGN Bonds Issuance Calendar for the Second Quarter, 2022’’ posted on the website on Tuesday.
The calendar shows that, on April 25, the DMO would open a new, 2032 FGN bond, valued at between N70 billion to N80 billion, with a tenor of 10 years.
It has an interest rate of 13 per cent per annum. Also on April 25, the DMO will re-open 2025, two-year, 11-month FGN bond valued, at between N70 billion to N80 billion.
It has an interest rate of 13.53 per cent, with an original tenor of seven years. The DMO will also re-open a 2042 FGN bond on the same date, valued at between N70 billion to N80 billion.
May 16 will witness the re-opening of 2025, two years, 10-month FGN bond, valued at between N70 billion to N80 billion.
It has an interest rate of 13.53 per cent per annum, with an original tenor of seven years. On the same date, it will offer a new, 2032 FGN bond valued at between N70 billion to N80 billion.
It has a tenor of nine years, 11 months, and an interest rate of 13 per cent. Also on May 16, the DMO will re-open a 2042 FGN bond for subscription, valued at between N70 billion to N80 billion, with a tenor of 19 years, eight months.
On June 20, the DMO will re-open an April 2032 FGN bond, valued at between N70 billion to N80 billion, with 19 year, seven months tenor. It would also re-open March 2025 FGN bond, valued at between N70billion to N80billion, with two years, nine months tenor.
Also, June 20 will witness the re-opening of a 2042 FGN bond, valued at between N70 billion to N80 billion. READ: Fixed Income Market Trades Cold as Yields Repricing Slowdown
Going by the DMO bond issuance calendar, the country’s debt stock is likely to increase by N720 billion in the second quarter of the year if there is no Eurobond raise but could go higher.
The DMO had earlier revealed that the total debt stock of Nigeria as of December 2021 was N39.55 trillion after Nigeria made a $1.25 billion Eurobond call in March 2022. #Nigeria to Borrow N720 Billion in 3-Month
