Bonds & Fixed Income | |
Bonds & Fixed Income | |
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Thursday, September 26, 2019
/02:05PM / By DMO / Header Image Credit: northeastern.edu
The Debt
Management Office (DMO) conducted the monthly Auction of FGN Bonds on
Wednesday, September 25, 2019. Three (3) Instruments (5-year, 10-year and
30-year bonds) with a total face value of N150.00 billion, were
offered to investors at the Auction.
The total subscriptions received from competitive bids for the
instruments was N160.90 billion. In addition, there were also
non-competitive bids of N46.60 billion, taking the total
subscription received (competitive and non-competitive) to the sum of N207.50
billion.
As in previous
Auctions, Investors sentiments remained strong for the longer-dated bonds.
Subscriptions received from competitive bids for the 10-year and 30-year bonds
were N82.91 and N63.66 billion, compared with the
amount offered of N50.00 billion and N55.00 billion,
for the two instruments, respectively.
Allotments were
made to successful bidders at 14.3900% for the 5-year, 14.4300% for the 10-year
and 14.6400% for the 30-year bonds. The amount allotted to competitive bidders
for the three (3) instruments was N100.00 billion, while the sum
of N46.60 billion was allotted to non-competitive bidders. Overall,
the total amount allotted at the Auction was N146.60 billion.
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