FG to raise N450bn via bond issuance in April 2024



The Debt Management Office (DMO) on behalf of the Federal Government of Nigeria has announced that it is offering for Subscription by Auction and is authorized to receive applications for the following:

N150 billion– FGN bond due in April 2029 (5-Yr New)

N150 billion FGN bond at 18.50% interest rate, due in February 2031 (7-Year Re-opening)

N150 billion –FGN bond at 19.00% interest rate, due in February 2034 (10-Year Re-opening)

According to DMO, Auction Date for the bond offer is April 15, 2024 while Settlement Date is April 17, 2024.

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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