Debt Management Office (DMO) on Tuesday disclosed that it would offer five, 15 and 30 year bonds at 12.75 percent, 12.50 percent and 12.98 percent interest rates respectively for public subscription this month.

The information was contained in a notice published on debt management agency’s website.

The document showed the breakdown of the N150 billion bond as including N40bn five-year reopening bond that would mature in April 2023, N50bn 15-year reopening bond that would mature in April 2035 and N60bn 30-year bond expected to mature in April 2050.

The document also showed that the auction date is June 17, 2020 and the settlement date is June 19, 2020.

FG had announced the oversubscription of its May bond offer by N365.18bn.

DMO had offered three N20b bonds each making a total of N60bn for the three offers.

It stated that it received a total subscription of N425.18bn from investors for the bonds comprising of N81.89bn for the 12.75 percent April 2023 bonds, N154.10bn for the 12.5 percent March 2035 bonds, and N189.19bn for the 12.98 percent March 20150 bonds.

Similarly, the government in the same month also commenced sale of its third tranche 7-year N150 billion Sovereign Sukuk.

DMO disclosed in a circular that the seven-year Islamic Sukuk, referred to as Ijarah, was at a rental rate of 11.2 per cent and would be due in June 2027.

The Office stated that the bond, which is payable semi-annually, was aimed at funding key road infrastructural projects across the six geo-political zones in the country.

Daily Trust