Ahead of Next T-Bills Auction Scheduled for 23rd July 2014

Proshare

Tuesday, July 22, 2014 11:26 AM / Meristem Wealth Management Limited

 

Issue on Offer/Summary

 

The Central Bank of Nigeria(CBN) is scheduled to hold Treasury Bills (T-Bills) Primary Auction on the 23rd of July, 2014.

 

T-Bills worth a total of NGN134.889bn will mature, while an equal sum will be issued in 91-day, 182-day and 364-day instruments.

 

The CBN is expected to auction NGN34.889bn and NGN48.000bn and NGN52.000bn in 91-day, 182-day and 364-day instruments respectively.

 

We advise the following  stop rates with the dual purpose of achieving the best possible yield as well as ensuring the success of the bid.

   91-Day                               NGN34.889bn                     9.90% - 9.95%

  182-Day                             NGN48.000bn                    10.15%  - 10.25%             

  364-Day                             NGN52.000bn                    10.10%  - 10.20%

 

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