The Federal Government allotted N90 billion in its April auction, the Debt Management Office (DMO) said.
The auction result obtained from DMO’s website in Abuja, said it sold N12.75 billion in seven-year bonds at 13.53 percent and N38.96 billion 10-year bond at 13.98 percent.
It, however, introduced a new five-year bond at 12.75 percent, raising N38.29 billion for it.
The result noted that successful bids for the 12.75 percent April 2023, 13.53 percent for March 2025 and 13.98 percent for February 2028 were allotted at the marginal rates of 12.75 percent, 12.85 percent and 12.89 percent, respectively.
However, the original coupon rates of 13.53 percent for the 13.53 percent March 2025 and 13.98 percent for the 13.98 per cent February 2028 will be maintained, while the coupon rate for the 12.75 percent for April 2023 (New Issue) is set at 12.75 percent.
It added that N25 billion of the 13.53 percent March 2025 and N25 billion of the 13.98 percent February 2028 were allotted on non-competitive basis.
Nigeria issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit.
Source: Voice of Nigeria