DMO to raise over N700bn from the public through bond issuance

The Debt Management Office (DMO) has released its FGN bond issuance calendar for the third quarter of 2022.

A plan which is aimed at raising between the range of N630 billion and N720 billion in the next three months.

This is contained in a document released by the DMO on its website.

According to the press release, the issuance for the quarter under review will be held on 18th July, 15th August, and 19th September 2022 respectively.

The breakdown of the calendar shows all bonds to be issued in the third quarter are reopening issuances.

On the 18th of July 2002, bonds will be offered for subscription in three tranches of 10-year, 10-year, and 20-year original tenor respectively. The Debt Office hopes to raise between N210 billion and N240 billion in the month of July.

Similarly, in the next month, the 13.53% FGN March 2025 will be issued on 15th August 2022, alongside the 12.5% FGN APR 2032 10-year bond and the 13% FGN JAN 2042 20-year bond.

Also, on 19th September 2022, the 13.53% FGN MAR 2025 bond will be reopened together with the 12.5% FGN APR 2032 10-year bond, and the 13% FGN JAN 2042 20-year bond.