FG to raise N450bn via bond issuance in May 2024

The Debt Management Office (DMO) has announced that the Federal Government of Nigeria is to raise N450 billion via bond issuance in the May 2024.

The DMO has been authorized to receive applications for the following:

* N150 billion bond at the interest rate of 19.30%, due in April 2029 (5-Yr Re-opening).

*N150 billion bond at the interest rate of 18.50%, due in February 2031 (7-Yr Re-opening)

*N150 billion bond due in May 2033 (9-Yr New).

According to DMO, the auction date is May 13, 2024 while settlement date is May 15, 2024.

UNITS OF SALE:

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