The Debt Management Office (DMO) yesterday announced the auctioning of three Federal Government bonds of N150billion at N1,000 per unit.
According to the statement obtained from DMO’s website disclosed that the three bonds were valued at N50 billion each, with interest rates of 16.29 per cent; 12.50 per cent and 9.80 per cent.
It listed the auction date as April 21, while settlement date is April 23.
“Minimum units for sale are N50,001 thousand and in multiples of N1,000 thereafter.
“For re-openings of previously issued bonds, successful bidders will pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned plus any accrued interest rate on the instrument,” the DMO said.
It explained that interest rates would be paid “semi-annually,” with bullet repayment on the maturity date.
The office said the bonds qualify as securities in which trustees can invest under the Trustee Investment Act.