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FG to sell N90 billion bond on February 12

By The Rainbow


The Debts Management Office ((DMO) has said the Federal Government  will sell bonds worth N90 billion on February 12.

In a circular titled  'February 2014 FGN Bond Offer Circular' posted on its Website on Thursday, the DMO said that the N90 billion worth of bonds comprised N45 billion three-year paper and N45 billion of 20-year paper

According to the debt management agency,  the bonds will mature in August 2016 and July 2030, respectively.

It stated further  that the 2016 and 2030 instruments would attract 13.05 per cent and 10.00 per cent coupon rates, respectively.

The sale is the second monthly debt auction for 2014.

The DMO, on Jan.15, issued two tranches of Federal Government bonds totaling N90 billion to investors.

The bonds had tenors of between three and 20 years with coupon rates of 10.5 per cent and 12.00 per cent, respectively.