Uche Usim, Abuja
The Debt Management Office (DMO) conducted the monthly Auction of FGN Bonds on Wednesday, September 25, 2019. three instruments (five-year, 10-year and 30-year bonds) with a total face value of N150 billion, were offered to investors at the auction. The total subscriptions received from competitive bids for the instruments were 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 the sum of N207.50 billion.
As in previous auctions, investors sentiments remained strong for the longer-dated bonds. Subscriptions received from competitive bids for the 10-year and 30-year bonds were N82.91 and N63.66 billion, compared with 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% for the 5-year, 14.4300% for the 10-year and 14.6400% 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.