Nigeria to Raise N1.2trn from Local Bond Sales
Federal Government of Nigeria (FGN) has revealed a plan to raise N1.2 trillion from the local debt capital market in the third quarter of 2023 via bonds issuance, the nation’s debt management said in a bond issuance calendar.
According to the calendar, on July 17, the DMO will re-open a 14.55 per cent, April 2029 FGN bond. Valued between N80 billion to N100 billion. It has a 10-year original tenor, with term-to-maturity of five years, and nine months.
Also on July 17, the DMO will re-open a 14.70 per cent, June 2033 FGN bond valued between N80 billion to N100 billion, with a 10-year original tenor and term-to-maturity of nine years, 11 months.
On the same date, the DMO will re-open a 15.45 per cent June 2038 FGN bond valued at between N80 billion to N100 billion, with a 15-year original tenor, and term-to-maturity of 14 years, 11 months.
Again, on July 17, the office will re-open a 15.70 per cent, June 2053 FGN bond, valued between N80 billion to N100 billion, with a 30-year original tenor, and term-to-maturity of 29 years, 11 months.
On Aug. 14, the DMO says it will, again, re-open the 14.55 per cent, April 2029 FGN bond valued between N80 billion to N100 billion, this time, with term-to-maturity of five years, eight months.
Also on Aug. 14, the DMO will re-open the 14.70 per cent, July 2033 FGN bond valued between N80 billion to N100 billion, with term-to-maturity of nine years, 10 months.
It will also re-open the 15.45 per cent, June 2038 FGN bond valued between N80 billion to N100 billion on Aug. 14; this time, with term-to-maturity of 14 years, 10 months.
Also on Aug. 14, the DMO will re-open the 15.70 per cent, June 2053 FGN bond valued at between N80 billion to N100 billion, with a new term-to-maturity of 29 years, 10 months.
On Sept. 11, the DMO will, again, re-open the 14.55 per cent, April 2029 FGN bond, valued between N80 billion to N100 billion; with a new term-to-maturity of five years, seven months.
Also, on Sept. 11, it will re-open the 14.70 per cent, June 2033 FGN bond valued between N80 billion to N100 billion; with term-to-maturity of nine years, nine months.
On the same date, it will re-open the 15.45 per cent, June 2038 FGN bond,valued between N80 billion to N100 billion, with a term-to-maturity of 14 years, nine months. # Nigerian Treasury Bills Yield Rises to 7%
Finally, on Sept 11, the DMO will re-open the 15.70 per cent, June 2053 FGN bond, valued at between N80 billion to N100 billion; with term-to-maturity of 29 years, nine months.
FGN savings bonds, like other government securities such as the FGN savings bonds, treasury bills, and the Sukuk bond, constitute the domestic component of government borrowing plan. #Nigeria to Raise N1.2trn from Local Bond Sales
