The Debt Management Office (DMO) has raised N123.85billion in its July Federal Government of Nigeria (FGN) bond auction.
A statement issued by DMO on Monday explained that the three instruments auctioned were valued at N75 billion each, totalling N225 billion.
Explaining further, DMO said: “The DMO, on July 18, offered three instruments – 13.53 per cent FGN March 2025, 12.50 per cent FGN April 2032 and 13 per cent FGN January 2042 for N75 billion each.
“It made a total of N225 billion offer for a subscription to the investing public at the July FGN bond auction.
“Although subscriptions for 13.53 per cent FGN March 2025, 12.50 per cent FGN April 2032 were below the offered amount, investors ‘ appetite for the longer-dated 13 per cent FGN April 2042 remained strong.
“It recorded total subscriptions of N104.92 billion representing about 140 per cent of the amount offered for the instrument,” it said.
It said that the total amount allotted to successful bidders was N123.85 billion, adding that the allotments were made at interest rates 11 per cent, 13 per cent and 13.74 per cent respectively. nan.
