The Federal Government has opened a new round of bond offerings valued at ₦80 billion, giving investors the opportunity to subscribe through an auction scheduled for July 28, 2025, with settlement set for July 30.
The offer, announced by the Debt Management Office (DMO), includes two re-openings of previously issued bonds: ₦20 billion for the 19.30% FGN April 2029 bond (five-year tenor), and ₦60 billion for the 17.95% FGN June 2032 bond (seven-year tenor).
Each bond unit is priced at ₦1,000, with a minimum subscription of ₦5,000. Investors can make further investments in multiples of ₦1,000. Subscriptions of up to ₦50 million are allowed.
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As re-opened issues, the interest rates on the bonds will be determined by the yield-to-maturity that clears the volume offered. Interest will be paid semi-annually, and full principal repayment will be made at maturity.
The July offer is slightly lower than the ₦100 billion offered in June.
In the last auction, the five-year bond attracted 30 bids amounting to ₦41.69 billion, though only two bids were successful, with a total allotment of ₦1.05 billion. The seven-year bond saw significantly stronger interest with 209 bids and ₦561.17 billion in subscriptions. Ultimately, 41 bids were accepted, with ₦98.95 billion allotted.
The DMO continues to use these bond issuances as a strategy to manage the country's debt sustainably while offering investors consistent returns through government-backed securities.
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