Bonds Worth N110b To Be Sold By DMO

 

The Debt Management Office says it will raise N110 billion worth of bonds in three categories on August 17. The DMO said this in its August Bond Circular posted on its website on Wednesday.

According to the DMO, the three categories of bonds include a 20-year bond, a 10-year bond and a five-year bond. It said the 20-year bond would be N40 billion, the 10-year and five-year bonds would be worth N30 billion and N40 billion respectively.

The statement said the three categories of bonds would mature in March 2036, January 2026 and July 2021, respectively. The DMO said the three categories of bonds would have different coupon rates of 12.40 per cent, 12.50 per cent and 14.50 per cent, respectively. It said all the bonds would be re-opening, while the settlement date would be on Aug 19. The DMO raised N120 billion worth of bonds in three categories for its July “Bond Circular”.