SAN FRANCISCO, December 23, (THEWILL) – The Debt Management Office, DMO has said a total of N60 billion bond it offered for the month of December had been oversubscribed by more than N70 billion.
A statement on its website on Wednesday said, “DMO offered a total of N60bn at the FGN Bond Auction of December 2020, which held on December 16. The offer was oversubscribed as total bids received were N134.056 billion, a subscription level of over 220 per cent.”
DMO stated that the rates of 6.945 per centand 7.000 per cent for the 15-year and 25-year FGN Bonds, were higher than the rates of 5.000 per cent and 5.785per cent at the last auction in October.
“The rates reflect the level of interest rates in the market influenced in part by Monetary Policy Actions”, it said.
FGN Bonds are debt securities issued by the DMO for and on behalf of the Federal Government and the government has an obligation to pay the bondholder the principal and agreed on interest as and when due.
