298 Competitive Bids were received from Investors for the three (3) Instruments, with a total value of ₦301.02 Billion, indicating a subscription level of 207.6%.
Allotments were made on successful Bids at 13.35% for the 5-year, 13.64% for the 10-Year and 14.12% for the 30-Year Bonds, which were consistent with Secondary Market Yields and also represented a decline in the marginal rates compared with those at the June 2019 FGN Bond Auction.
The total amount allotted for Competitive Bids was ₦86.82 Billion from the total subscription of ₦301.02 billion. In addition, the sum of ₦58.20 Billion was allotted across the three (3) tenors for Non-Competitive Bids at the same rates with the Competitive Bids.
Overall, the sum of ₦145.02 Billion was raised at the Auction through both Competitive and Non-Competitive Bids. The amount raised is to be utilised to part-finance the 2019 Budget of the Federal Government.