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Home Economy/Technology

Nigeria targets N720bn as DMO releases bond issuance calendar

Bond

The Matters Press by The Matters Press
July 6, 2022
Reading Time: 2 mins read
0
Nigeria’s N225bn bonds oversubscribed

The Federal Government is set to generate about N720 billion in the third quarter of 2022 from FGN Bonds.

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This is according to “FGN Bond Issuance Calendar For Third Quarter, 2022” as released by the Debt Management Office (DMO).

The calendar shows that the DMO will re-open nine previously issued FGN Bonds between July and September.

According to the calendar, on July 18, the DMO will re-open a 13 per cent, March 2025 FGN Bond valued at between N70billion to N80billion.

It has a maturity date of two years, eight months, with original 10-year tenor.

Also on July 18, the DMO will re-open a 12.5 per cent, April 2032 FGN Bond valued at between N70billion to N80billion.

It has nine years, nine months term-of-maturity; with 10-year original tenor.

The office will, again, re-open a 13 per cent, Jan. 2042 FGN Bond valued at between N70billion to N80 billion on the same date.

It has 19 years, six months term-of-maturity, and an original tenor of 20-year.

On Aug. 15, the DMO will re-open the 13.53 per cent, March 2025 FGN Bond, valued at between N70billion to N80billion, with two years, seven months as term-of-maturity.

It has an original tenor of 10-year.

On the same date, it will re-open the 12.50 per cent, April 2032 FGN Bond, valued at between N70billion to N80billion; with term-of-maturity of nine years, eight months.

It has a 10-year original tenor.

Again, on Aug. 15, it will re-open the 13 per cent, 2042 FGN Bond, valued at between N70billion to N80billion; with 19 years, five months as term-of-maturity.

It has a 20-year original tenor.

The calendar also shows that, on Sept. 19, the DMO will again re-open the 13.53 percent, March 2025 FGN Bond, valued at between N70billion to N80billion.

It has two years, six months term-of-maturity and 10-year original tenor.

Again, on Sept 19, the DMO will re-open 12.50, April 2032 FGN Bond valued at between N70billion and N80billion, with nine years, seven months as term-of-maturity.

It has a 10-year original tenor ( length of time ).

On the same date, the office will, again, re-open the Jan. 2042 FGN Bond valued at between N70billion to N80billion; with 19 years, four months as term-of-maturity.

It has original tenor of 20-year.

The Re-opening a Bond issue refers to issuing additional amounts of a previously issued Bond.

Re-opened Bonds have the same maturity date and interest rate as the original bonds, but they are sold on different dates and usually at a different price.

The DMO, however, said that the calendar was provisional and could be subject to change at short notice.

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