Thursday, 31 January 2019 08:01

Press Release for January 2019 FGN Bond Auction

JANUARY 2019 FGN BOND AUCTION OVERSUBSCRIBED

At the first FGN Bond Auction for 2019 on Wednesday, January 30, 2019, the Debt Management Office (DMO) offered 3 instruments with total value of N150 billion. Total subscriptions from investors for the bonds was over N197 billion, indicating a subscription level of 131%.

Successful bids were allotted at the rate of 15.20% for the 5-year, 15.25% for the 7-year and 15.35% for the 10-year bonds. The rates for the allotments were consistent with the yields in the secondary market.

Investor preference was mainly for the 10-year Bond which had a subscription level of 299%.

In accordance with its policy of keeping the Government’s borrowing costs at prudent levels, the DMO allotted a total of N116.98 billion to successful bidders.

DEBT MANAGEMENT OFFICE

The Presidency

NDIC Building (First Floor),

Plot 447/448 Constitution Avenue,

Central Business District,

P.M.B. 532, Garki, Abuja

Tel: +234 - 8110000881-3

Website: http://www.dmo.gov.ng,

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

January 30, 2019