DMO To Increases Debt Profile by N90bn Through Bonds

The Debt Management Office (DMO)  is offering five, seven and 10 years savings bonds at 12.7 per cent, 13.5 per cent and 13.8 per cent interest rates respectively.

In a document published on its website last week, DMO said the subscription was opened from today and would close on August 17, 2018. It noted that the interest payment of the bond was semi-annually.

At the auction, DMO is offering N25bn of a five- year re-opening issue maturing in April 2023 at 12.75 per cent.

Another N25bn seven -year re-opening bond will mature in March 2025 at 13.53 per cent. It will also offer N40bn of a 10 year re-opening at 13.98 per cent to mature in Feb. 2028.

The bond costs N1,000 per unit, subject to a minimum subscription of N5,001,000 and in multiple of N1,000 thereafter, DMO records shows.


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