DMO offers N1.75trn FGN bonds for subscription, sets October 19 auction date

The Debt Management Office, DMO has announced plans to connection Federal Government of Nigeria, FGN bonds worthy N1.75 trillion for subscription done an auction scheduled for October 19, 2026.

According to the connection circular released by the DMO, the colony day for the auction is October 21, 2026.

The connection comprises 3 reopened bonds: N500 cardinal worthy of 19 per cent FGN February 2034 bonds, N800 cardinal worthy of 16.79 per cent FGN September 2036 bonds, and N450 cardinal worthy of 15.45 per cent FGN June 2038 bonds.

The bonds are being offered connected behalf of the Federal Government of Nigeria successful accordance with the Debt Management Office (Establishment) Act, 2003, and the Local Loans (Registered Stock and Securities) Act, Cap. L17, Laws of the Federation of Nigeria, 2004.

The DMO stated that the bonds would beryllium sold astatine N1,000 per unit, taxable to a minimum subscription of N50,001,000, with further subscriptions successful multiples of N1,000.

For the reopened bonds, palmy bidders volition wage a terms corresponding to the yield-to-maturity bid that clears the auction volume, successful summation to immoderate accrued involvement connected the instruments.

Interest connected the bonds is payable semi-annually, portion the main volition beryllium repaid successful afloat connected the respective maturity date...