The Debt Management Office has said that it will offer N150 billion bonds for subscription in June, 2021.
According to a circular released from the Debt Office, the bonds comprised three bonds worth N50 billion each.
The DMO said the bonds would be auctioned on June 23 and that all the three have the same date for settlement.
The bonds are a 10-year reopening bond to be offered at the rate of 16.2884 per cent and to mature in March 2027; a 15- year reopening bond to be offered at 12.5 per cent with maturity date of March 2035; and a 30-year reopening bond to be offered at 12.98 per cent and mature in March 2050.
FGN Bonds are “backed by the full faith and credit of the Federal Government of Nigeria”, the DMO said, adding that they are equally charged upon the general assets of Nigeria.
The debt office explained further that FGN bonds qualified as liquid assets for liquidity ratio calculation for banks.
For re-openings of previously issued bonds where the coupon is already set, the circular said successful bidders would pay a price corresponding to the yield to maturity bid that cleared the volume being auctioned, plus any accrued interests on the instrument.
Last month, the DMO offered similar bonds of N150 billion bonds for subscription which comprised three bonds worth N50 billion each.