FGN bonds offer investors 12.50%, 12.75%, 12.98% to be opened April 22

The Debt Management Office says ₦60 billion worth of Federal Government bonds will be up for subscription on April 22.

Based on their respective tenors, the bonds are to be offered for subscriptions at different rates.

DMO on its website indicates that the 5-year re-opening bonds of ₦20 billion to mature in April 2023 offer rate is 12.75%.

Also, 15-year re-opening bonds of ₦20 billion to mature in March 2035 would be auctioned at 12.50%.

It added that the ₦20 billion 30-year bonds, due in April 2050, would be auctioned at 12.98%.

DMO said the bond will be quoted at ₦1, 000 per unit.

This subject to a minimum subscription of ₦50 million and in multiples of ₦1,000 thereafter.

It explained that the instruments are backed by the full faith and credit of the Nigerian Government.

Meanwhile, interest on bond will be paid semi-annually to bondholders. The issuing entity said bullet repayment will be made on maturity date.

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FGN bonds offer investors 12.50%, 12.75%, 12.98% to be opened April 22