DMO raises N110bn worth of bonds

News Express |18th Aug 2016 | 2,939

The Debt Management Office (DMO) on Wednesday at an auction raised N110 billion worth of bonds to mature in 2021, 2026 and 2036, it said.

According to DMO’s auction result obtained from its website on Wednesday, it sold N40 billion of 2021 paper at 14.50 percent.

It also sold N30 billion of 2026 paper at 12.50 percent and N40 billion of 2036 paper at 12.40 percent.

The summary stated that an additional N109.5 billion of the 14.50 percent July 2021 bonds was allotted on non-competitive basis.

Subscriptions from investors for the July 2021 bond, which was reopened, stood at N74.37 billion, while that of January 2026, which was also reopened, stood at N71.06 billion.

Subscriptions for the March 2036 bond which was also reopened stood at N64.86 billion.

•Sourced from Independent. Photo shows DMO DG, Dr. Abraham Nwankwo.

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