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September bond auction raises N146.6 bn for FG – DMO

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The Debt Management Office (DMO) says it raised N146.6 billion for the N150 billion offered for three instruments in the September bond auction.

DMO in a statement said the auction took place on Wednesday in Abuja.

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.

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