DMO to sell bonds worth N50bn

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The Debt Management Office (DMO) on Thursday said it would sell bonds worth N50 billion, comprising N25 billion of three-year paper and N25 billion in the 10-year paper.

The DMO March 2014 FGN Bond Offer Circular, posted on the company’s Website indicated that the bonds would mature in August 2016 and March 2024, respectively.

It said that both would be auctioned on April 23 with settlement dates of April 25, this year, adding that the three-year and 10-year bonds were re-opened.

The DMO also said that the 2016 instruments attracted 13.05 per cent and 14.20 per cent coupon rates respectively.

The DMO had on March 6 issued two tranches of Federal Government bonds, totaling N90 billion to investors with tenors between three and 10 years with coupon rate of 13.05 per cent and 10.00 per cent, respectively

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