March 2018 FGN Bond Auction – Total Subscription Put At N142.81bn

Proshare

Friday, March 23, 2018 / 09:03 AM / DMO 

The Debt Management Offices wishes to inform the General Public that it has conducted the third in the series of FGN Bond Auctions for the year on March 21, 2018 to raise funds for the implementation of the 2018 Budget. 

Bonds were offered in three tenors – 5, 7 and 10 years, to meet the needs of the various investor categories. The Auction was oversubscribed, just like the January and February Auctions. 

Total subscription at the March Auction was N142.81 billion, representing 204% of the amount offered. The subscription rates for the 5, 7 and 10 year Bonds were 189%, 84% and 329% respectively, showing the preference of investors for the 10-year Bond. 

Based on the bids received, a total of N64.06 billion was allotted and the rates were 13.40% for the 5-year, 13.53% for the 7-year and 13.60% for the 10-year Bond. 

Related News

  1. Funding rates crash by c.14pct as inflows from OMO and PMA Repayments bolster System Liquidity
  2. Bond Yields Decline as Auction rates clear c.35bps lower on the 5- and 10-yr
  3. Dangote Cement Plc Plans to Raise $833m Via Bonds to Fund Expansion
  4. Ahead of Next T-bills Auction Scheduled 21st March, 2018
  5. Slight Uptick in Bond Yields as Market Players anticipate Dual Bond and T-bill PMAs
  6. Stellar Ratios for External Debt
  7. Bond Yields Stay Flat as CBN Resumes OMO
  8. Pan African Local Currency Government Debt- African Domestic Bond Fund (ADBF)
  9. Developing African Bond Market
  10. Debt Management Strategies Reduce Interest Expense
  11. Sustained Bullish Trend to Push Rates Lower as PMA Holds on Wednesday; Indicative Rates
  12. Total Public Debt as at December 31, 2017 Represents 18.20% of Nigeria’s GDP for 2017 - DMO
READ MORE:
Related News
SCROLL TO TOP