Thursday, September 26, 2019
/02:05PM / By DMO / Header Image Credit: northeastern.edu
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
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
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
N82.91 and N63.66 billion, compared with the
amount offered of N50.00 billion and N55.00 billion,
for the two instruments, respectively.
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.