Uche Usim, Abuja
The Debt Management Office (DMO) on Wednesday revealed that the Federal Government (FGN) bond auctions for February valued at N150 billion was offered in three instruments, for five, seven, and 10-year tenors.
According to the DMO, total bids received from investors for the bonds exceeded N234 billion, with a total subscription level of 156 per cent. The focus of investors was principally on the 10-year bond which has a subscription level of 392 per cent.
Successful bids were allotted at rates notably lower than those at the January 2019 Auction, with 14.52% for the 5-year, 14.7999% for the 7-year and 14.939% for the 10-year bond.
The DMO allotted the full N150 billion offered to successful bidders across the 3 tenors.
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