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FG to raise N300bn in July Bond offer

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FG to raise N300bn in July Bond offer

The Federal Government of Nigeria is set to raise N300 billion bond offer for the month of July 2024.

The Debt Management Office (DMO) on behalf of the Federal Government of Nigeria announced the offer for subscription by auction for the following:

N100 billion bond at the interest rate of 19.30% due in April 2029 (5-Yr Re-opening)
N100 billion bond at the interest rate of 18.50% due in February 2031 (7-Yr Re-opening)
N100 billion bond at the interest rate of 19.89% due in May 2033 (9-Yr Re-opening)
According to DMO, the Auction Date is on July 15, 2024 while Settlement Date is July 17, 2024.

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UNITS OF SALE:

N1,000 per unit subject to a minimum subscription of N50,001,000 and in multiples of N1,000 thereafter

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