The Debt Management Office (DMO) says its recently released N225 billion Federal Government of Nigeria (FGN) bonds offer were hugely oversubscribed.
The DMO, in a statement on Tuesday, said that the bonds offer received a total of 300 successful bids.
It added that they were oversubscribed to the tune of N34.15 billion, N12.3billion and N143.08 billion respectively.
The DMO recently offered for subscription three new FGN bonds collectively valued at N225 billion.
They were a N75 billion FGN bond at 13.5 per cent interest rate, due in March 2025 and a N75 billion FGN bond at 12 per cent interest rate due in April 2032 .
The third one was a N75 billion bond at 13 per cent interest rate, due in January 2042.
The bonds were offered at N1,000 per unit with a minimum subscription of N50million, and in multiples of 1,000 units thereafter.
The DMO stated that the first N75billion bond offer received a total subscription of N108 billion while the DMO allotted N75.28billion.
The second N75billion bond offer received a total subscription of N78.22billion, and the DMO allotted N75.92billion, while the third one received a total subscription of N222.76billion, with N79.68billion allotted.
According to the agency, successful bids for the for the first, 13.53 per cent March 2025, FGN, re-opening 10-year bond was allotted at a marginal rate of 10.0000 per cent.
It added that the 13 per cent FGN January 2042, re-opening 20-year bond was allotted at a marginal rate of 12.9000 per cent.
“However, the original coupon rates of 13.5300 per cent for the 13.5300 per cent FGN March 2025 and 13.0000 per cent for the 13 0000 per cent FGN January 2042 bonds will be maintained.
“The coupon rate for the 12.50, FGN March 2042 (new issue) is set at 12. 5000 per cent, ” the DMO said.
