The Debt Management Office (DMO) conducted the monthly Auction of FGN Bonds on Wednesday, September 25, 2019 on three instruments (five-year, 10-year and 30-year bonds) with a total face value of N150 billion, offered to investors at the auction. Total subscriptions received from competitive bids for the instruments was N160.90 billion. In addition, there were also non-competitive bids of N46.60 billion, taking the total subscription received (competitive and non-competitive) to N207.50 billion. As in previous auctions, investor sentiment remained strong for longer-dated bonds. Subscriptions received from competitive bids for the 10-year and 30-year bonds were N82.91 and N63.66 billion, compared to the amount offered of N50.00 billion and N55.00 billion, for the two instruments, respectively.
The DMO in a statement said allotments were made to successful bidders at 14.3900 per cent for the 5-year, 14.4300 per cent for the 10-year and 14.6400 per cent for the 30-year bonds. The amount allotted to competitive bidders for the three instruments was N100 billion, while the sum of N46.60 billion was allotted to non-competitive bidders. Overall, the total amount allotted at the auction was N146.60 billion.