DMO to raise from Bond issuance of N75 billion

The Federal Government through the Debt Management Office (DMO) has announced the offer for subscription by auction for its FGN January bond, with its auction date set for February 16, 2022.

This is contained in a recent circular published by the DMO on its website. According to the disclosure, the issuance will be in two tranches, as it aims to raise a sum of N75 billion from each of the bond issuance.

It will be recalled that the DMO announced the offer for subscription for its February 2022 FGN savings bond to investors, with interest rates of 7.22% and 8.22% for the 2-year and 3-year bond respectively.

Also, a month-on-month comparison shows that the rates for the two tranches are lower compared to 7.542% and 8.542% offered for the 2-year FGN savings bond due January 19, 2024, and 3-year FGN Savings bond due January 19, 2025, respectively.