Wednesday, 24 July 2019 19:13

Press Release - July 2019 FGN Bond Oversubscribed

The Debt Management Office (DMO) offered three (3) Instruments (5-Year, 10-Year and 30-Year Tenors) with a total value of 145 Billion, for subscription to the Investing Public at its July 2019 FGN Bond Auction which took place on Wednesday, July 24, 2019.

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.

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.

July 24, 2019