DMO offers N7.15 trn bond for October  subscription

By Elizabeth Adegbesan

The Federal Government through the Debt Management Office, DMO, has offered N7.15 trillion FGN Bond for September subscription.

DMO disclosed this in its latest announcement saying that   the N17.5 trillion offer comes in three tranches.

The first tranche is N500 billion for February 2034 (10 year reopening) bond with a 19 percent interest rate.

Followed by an N800 billion offer for September 2036 ( 10 year reopening) bond with a 16.79 percent interest rate.

The last tranche is a N450 billion offer for the June 2038 (15 year reopening) bond with a 15.45 percent interest rate.

According to DMO, subscription for the bond is by auction on October 19, 2026. The settlement date is slated October 21st, 2026.

DMO said that the unit for sale N1,000 per unit subject to a minimum subscription of N50,001,000 and in multiples of N1,000 thereafter.

The office further said that for re-openings of previously issued bonds, (where the coupon is already set), successful bidders will pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned, plus any accrued interest on the instrument.

DMO noted that interest rate is payable semi-annually while  bullet repayment is on the maturity date.