- The Federal Government plans to raise N180 billion from the bond market in October 2024, a 20% increase from September’s offer
- Two bonds will be reopened for auction, including the N90 billion 19.30% FGN APR 2029 and N90 billion 18.50% FGN FEB 2031
The Federal Government of Nigeria, through the Debt Management Office (DMO), plans to raise N180 billion from the bond market in October 2024. This represents a 20% increase from the N150 billion offered in September.
According to the bond offer circular issued by the DMO, two previously issued bonds will be reopened for auction.
The first is the N90 billion 19.30% FGN APR 2029 (5-year reopening), and the second is the N90 billion 18.50% FGN FEB 2031 (7-year reopening).
The auction is scheduled for October 21, 2024, with settlement set for October 23, 2024. The units of sale are priced at N1,000 per unit, with a minimum subscription of N50,001,000.