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Bonds: Nigerian govt targets N720bn in next 3 months – DMO

by Chima Taylor

 

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

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 N80billion on thesame 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 ( 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 News Agency of Nigeria (NAN) reports that 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.

 

Source : Daily Nigerian

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