Summary of April 2019 FGN Bond Auction Results


Wednesday, April 24 2019  06:10 PM / DMO


Auction Result for the 12.75% FGN APR 2023 (Re-opening 5-year Bond), 14.55%FGN APR 2029 (New Issue 10-Year Bond) & 14.80% FGN APR 2049 (New Issue 30-Year Bond)

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Successful bids for the 12.75% FGN APR 2023, 14.55% FGN APR 2029, and 14.80% FGN APR 2049 were allotted at the Marginal Rates of 14.5000%, 14.5500% and 14.8000%, respectively.

However, the original coupon rate of 12.75% for the 12.75% FGN APR 2023 will be maintained, while the coupon rates for the 14.55% FGN APR 2029 (New Issue) and 14.80% FGN APR 2049 (New Issue) is set at 14.55% and 14.80% respectively.

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4.      Ecobank Launches New 5-Year Eurobond at 9.75% Re-Offer

5.      Outlook For Yields On FGN Bonds Remain Relatively Stable With Renewed Buying Interests On Maturities

6.      Bond Yields Maintain Slight Uptrend Following Selloff on the 20-year

7.      Bond Yields Trend Higher Following Selloff on Mid and Long Tenors

8.     Funding For CBN Wholesale FX Auction Pressures Short Term Rates Higher

9.      Average T-Bills Yield Contracts Marginally to 13.4% as CBN Resumes OMO Auctions

10.  Average Money Market Rate Rose By 5.45% To Settle At 15.72%

11.   Bond Yields Compress Marginally Following Bargain Hunt on Short Tenors


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