DMO to raise N110bn via bonds April 13
The Debt Management Office (DMO) has said it will raise N110bn ($553m) in naira-denominated bonds on April 13.
The DMO said on Tuesday it would sell N50bn of a bond maturing in 2036, N40bn of paper maturing in 2026 and N20bn of debt maturing in 2020, using the Dutch Auction System, Reuters reported.
Results of the auction are expected to be released next Friday.
All the bonds on offer are re-openings of previous issues.
The DMO had on Monday said it was planning to raise between N274bn and N365bn this quarter in local currency-denominated bonds, with maturities ranging between five and 20 years.
The debt office will auction between N15bn and N25bn in five-year paper in April, along with N35bn to N45bn worth in 10-year debt and N45 to N55bn in 20-year bonds.
In May, the debt office plans to issue between N10bn and N20bn worth of five-year paper, N35bn to N45bn of 10-year bonds and N45bn to N55bn of 20-year debt.
In its latest bond issuance calendar, the debt office also said it would in June raise between N10bn and N20bn in five-year, N35bn to N45bn in 10-year and N45bn to N55bn worth of 20-year paper.
The Federal Government said all were re-openings of those previously issued. - Punch.