Pic 18. From Left: Director-General of Debt Management Office (DMO), Patience Oniha; Chief Executive Officer, Nigerian Stock Exchange, Oscar Onyema and Minister of State for Environment, Usman Jibril during the official listing ceremony of the 13.48%, 5year, N10.69bn FGN Green Bonds in Lagos on Friday (20/7/18) 03805/20/7/18/Babatunde Atolagbe/ICE/NAN
The Debt Management Office (DMO) has opened offers for subscription for two-year and three years tenure of Federal Government of Nigeria bonds.
This was disclosed by DMO on its website on Monday.
According to the statement, the offer of subscription will last for four days- between the 7th and 11th of August, 2023. The bonds are due on August 26, 2025, for the two-year bonds and August 16, 2026, for the three-year bonds.
The statement reads:
“Under the Debt Management Office (Establishment) Act 2003 and the Local Loans (Registered Stock and Securities) Act, CAP. L17, LFN 2004 DEBT MANAGEMENT OFFICE on behalf of the FEDERAL GOVERNMENT OF NIGERIA Offers for Subscription and is authorized to receive applications for the Federal Government of Nigeria saving bonds”
Interest rate and tenure of bonds
The interest rate for the two-year tenure stands at 9.634% per annum while that of the three-year tenure is 10.634%.
The statement from the office also provides the settlement date for both offers on August 16th and the coupon payment dates are November 16, February 16, May 16, and August 16. Interests on these bonds are paid quarterly.
Units of subscription
According to the DMO, the units of subscription are as follows “N1,000 per unit subject to a minimum Subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50,000,000.”
Interested investors are to contact stock brokerage firm listed as agents by the Debt Management Office (DMO) and the bonds are listed on the NGX.
