April 2020 FGN Bond Auction Oversubscribed

Proshare

Monday, April 27, 2020 / 11:10 AM / by DMO / Header Image Credit: Steve Jonson/ Pixabay

 

The Debt Management Office (DMO) conducted the FGN Bond Auction for April 2020 on Wednesday, April 22, 2020. As has been the trend this year, the Auction was oversubscribed.


Proshare Nigeria Pvt. Ltd.


The DMO offered N60.00 billion Bonds across three (3) tenors to investors at the Auction - N20.00 billion each for the 5-Year, 15-Year and 30-Year tenors. The total subscriptions received through competitive bids for the 3 instruments was N275.67 billion, indicating an overall subscription level of 459%.

Demand was very strong for all the instruments offered at the Auction. A breakdown of the subscriptions shows that the sum of N49.70 billion or 248.50% was received for the 5-year Bond; N107.47 billion or 537.35% for the 15-year Bond and N118.50 billion or 592.25% for the 30-year Bond.

Successful bids were allotted at the rate of 9.00% for the 5-Year, 12.00% for the 15-Year and 12.50% for the 30-Year Bond, all of which are lower than the rates at the March 2020 FGN Bond Auction.

The total amount allotted for competitive bids was N156.06 billion across the 3 tenors, while the sum of N20.00 Billion was allotted through non-competitive bids for the 5-year and 15-year tenors, which brought the total amount allotted from competitive and non-competitive bids to N176.06 billion.


Proshare Nigeria Pvt. Ltd.

 

Related News

  1. Central Bank Sterilizes N1.30Trillion Of Bank Deposits To Combat Excess System Liquidity
  2. A Much Better Auction for the DMO
  3. DANGCEM Announces the Issuance of N100bn Series 1 Fixed Rate Senior Unsecured Bonds
  4. System Liquidity Touches A Trillion, Prompting An OMO Auction By The CBN
  5. Summary of FGN Bond Auction Results For April 2020
  6. Two-In-One Combo: DMO Cuts Stop Rates And Borrows 160% More At Bond Auction Amidst Healthy Demand
  7. Yields Retreat as Global Oil Prices Plummet
  8. FLOURMILL CP Available; T-Bills Secondary Market Witness Bullish Run on Buoyant Liquidity
  9. Gap Between Primary and Secondary Market OMO Rates Widens as CBN Sells N134bn At Auction
  10. Invest in FGN Monthly Bond Auction - April 2020
  11. FLOURMILL Issues Series 13 and 14 of its 100bn CP Programme With FMDQ Exchange
  12. Bond Yields Resume Rally as DMO Plans To Offer N60Bn in April FGN Bond Auction

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.
READ MORE:
Related News
SCROLL TO TOP