The Debt Management Office has announced an offer of two Federal Government of Nigeria bonds valued at N1tn for subscription at N1,000 per unit.
The DMO, in a statement on Monday, said the first offer was a new 10-year FGN bond valued at N400bn and due in September 2036.
The second was a N600bn reopening of a 15-year FGN bond due in 2038, with a coupon rate of 15.45 per cent per annum.
The offer opened on September 14, while the settlement date is September 16.
“The FGN bonds are offered at N1,000 per unit subject to a minimum subscription of N50 million and in multiples of N1,000 thereafter,” the DMO said.
It added that for reopenings of previously issued bonds, where the coupon is already set, successful bidders would pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned, plus any accrued interest.
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