Few months for 2019 to end if presidency is sincere about 2020 budget plan ongoing before the national assembly. While wasting efforts to raise fund to finance something that due to expired January 2020 or the presidency did not trusted national assembly capacity to screen the entire 2020 budget documents?
According to the Debt Management Office (DMO) statement on it’ site disclosed that as part of the capital raising for the 2019 Budget, the office is offering 5, 10 and 30 year bonds at 12.8 percent, 14.6 percent and 14.8 percent interest rates respectively.
The document was published on the Debt Management Office (DMO) website on Wednesday.
The document contained a total grand of N150 billion bonds with breakdown of a N50bn for 5-year reopening bond that would mature in April 2023, while a N50bn for 10-year reopening bond that would mature in April 2029 and N50bn for 30-year bond expected to mature in April 2049 respectively.
Also, Federal Government offered long term bonds of 5-year, 10-year and 30-year tenors with a total value of N145bn, for subscription to the investors at its September, August and July FGN bond auction.
The DMO in a statement noted that a total of 298 competitive bids were received in the month of July from investors for the three instruments, with a total value of N301.02bn. The statement also noted that the total subscription level was 207.6 per cent.
Allotments were made on successful bids at 13.35 per cent for the 5-year, 13.64 per cent for the 10-year and 14.12 per cent for the 30-year bonds, which were consistent with secondary market yields and represented a decline in the marginal rates compared with those at the June 2019 FGN bond auction.