Nigeria’s Debt Management Office records 1,322 bond subscriptions in June

The Debt Management Office (DMO) says it recorded 1,322 successful subscriptions and N1.7 billion total allotments in its two Federal Government of Nigeria (FGN) bond offers for June.

This is contained in the FGN bonds allotment result released by the organisation.

The DMO had earlier offered two FGN bonds for subscription on June 6.

The first one was a June 2024 FGN bond at interest rate of 8.20 percent per annum, while the second one was a June 2025 FGN bond at 9.20 percent per annum.

Settlement date for both offers were June 15, 2022 and coupon payment dates are Sept. 15, Dec. 15, March 15 and June 15. They have a two-year and three-year tenor respectively.

According to the DMO, the June 2024 FGN bond offer received 701 successful subscriptions and N759.92 million total allotment, while the June 2025 bond received 621 successful subscriptions and N1.104 billion allotment.

NAN/Hauwa Abu