Uche Usim, Abuja
The Debt Management Office (DMO), on Wednesday, said that Federal Government’s N90 billion August bond, which was offered in three tenors of five years, seven years and 10 years, was over-subscribed.
It said the total subscriptions received from bidders at the Auction were above N100 billion.
The DMO, in a statement, said the allotments were made to successful bidders at 14.39% for the five-year, 14.60% for the seven-year and 14.69% for the 10-year bond, which are consistent with the rates in the secondary market for the Bonds offered at the auction.
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“A total of N100.09 billion was allotted to competitive and non-competitive bidders at the Auction and the proceeds will provide additional financing for the implementation of the 2018 Appropriation Act”, it said in a statement.