Debt Management Office (DMO) has announced offers for subscription, by auction, of three batches of N75 billion bonds.

In a statement yesterday, it stated that the auction date is April 25, 2022, while settlement would be on April 27, 2022.

It said the N75bn bond would have a 13.53 per cent interest rate maturing by March 2025 with a 10-year re-opening. The next is also a N75bn bond maturing by April 2032 as a 10-year new issue; while the third is also a N75bn bond of 13% with January 2042 maturity (20 years re-opening).

It said the units of sale is N1,000 per unit subject to a minimum subscription of N50m and in multiples of N1,000 thereafter.

All FGN Bonds qualify as liquid assets for liquidity ratio calculation for banks, DMO stated.

It added that all federal government’s bonds are backed by the full faith and credit and charged upon the general assets of Nigeria.”

Daily Trust