The Debt Management Office has said the Federal Government will auction N150bn worth of bonds by subscription on August 19.
A circular by the DMO showed the breakdown of the figure to include a N25bn 10-year reopening bond that would mature in January 2026 and be offered at 12.5 per cent; and a N40bn 15-year reopening bond that would mature in March 2035 and be offered at 12.5 per cent.
It also showed a N45bn 25-year reopening bond that would mature in July 2045 and be offered at 9.8 per cent; and the longest tenor of a N40bn 30-year reopening bond to be offered at 12.98.
According to the DMO, the settlement date for the bonds is August 21, 2020.
The Federal Government’s bonds worth N130bn, which were auctioned in July, were oversubscribed by N340.13bn.
The total subscription received for the July bonds was N470.13bn, comprising 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.