September bond auction raises N146.6 bn for FG – DMO
The Debt Management Office (DMO) says it raised N146.6 billion for the N150 billion offered for three instruments in the September bond auction.
The office said that it received N207.5 billion in subscriptions for the three instruments of five, 10 and 30-year tenors that were offered.
It, however, said that the N146.6 billion raised at the auction was through both competitive and non-competitive bids.
“The amount allotted to competitive bidders for the three instruments was N100 billion, while the sum of N46.6 billion was allotted to non-competitive bidders.”
The DMO added that allotments were made to successful bidders at 14.39 per cent for the five-year, 14.43 per cent for the 10-year and 14.64 per cent for the 30-year bonds.
News Agency of Nigeria (NAN) reports that Nigeria issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit.