July 2020 bonds oversubscribed by N340bn- DMO

July 2020 bonds oversubscribed by N340bn- DMO.

July 2020 bonds oversubscribed by N340bn- DMO

The Debt Management Office has revealed that Federal Government of Nigeria’s Bonds for the month of July worth N130bn, which were auctioned on Wednesday, were oversubscribed by N340.13bn according to figures obtained from the office.

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The total subscription received for the bonds was N470.13bn, comprising of N71.97bn for the 12.5 per cent FGN January 2026 bonds; N60.32bn for the 12.5 per cent FGN March 2035 bonds; N130.27bn for the 9.8 per cent FGN July 2045 bonds; and N207.57bn for the 12.98 per cent FGN March 2050 bonds.

The FGN 12.5 per cent January bond was offered for N25bn, while the other three bonds were offered for N35bn each.