DMO reviews bond issuance schedule, announces N720 billion borrowing plan

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By Kadiri Abdulrahman

The Debt Management Office (DMO) has revised its bond issuance schedule for the third quarter of 2022.

Under the revised schedule, the DMO is expected to raise around N720 billion through some reopened Federal Government of Nigeria (FGN) bonds.

On July 19, the bureau was expected to reopen a March 2025 FGN bond worth between N70 billion and N80 billion and at an interest rate of 13.53 percent per annum.

It has a duration of two years and eight months, with an initial duration of seven years.

On the same date (July 19), the DMO reopened an April 2032 FGN bond worth between N70 billion and N80 billion at an interest rate of 12.50% per annum.

The term to maturity is nine years, nine months, with an initial term of 10 years.

In addition, on July 19, the DMO reopened a January 2042 FGN bond worth between N70 billion and N80 billion, at an interest rate of 13% per annum, with a maturity of 19 years. and six months.

It had an original term of 20 years.

On August 15, the DMO reopened the March 2025 FGN bond again, valued at N70-80 billion, and an interest rate of 13.53% per annum.

It had a term of two years, seven months.

On August 15, it also reopened the FGN 2032 bond valued between N70 billion and N80 billion at an interest rate of 12.50 percent per annum.

Its term to maturity was now nine years and eight months.

On the same date, the DMO again reopened the FGN bond of January 2032 worth between 70 and 80 billion naira, at an interest rate of 13% per annum.

The maturity period was 19 years and five months.

On September 19, the DMO will re-open the March 2025 FGN bond worth between N70 billion and N80 billion again at the rate of 13.53% per annum.

The maturity period will now be two years and four months.

On the same date (September 19), the bureau will also reopen the April 2032 FGN bond worth between N70 billion and N80 billion, at an interest rate of 12.50 percent per annum.

Its term to maturity will be nine years and seven months.

On September 19, the DMO will reopen a March 2037 FGN bond worth between 70 billion and 80 billion naira, at an interest rate of 16.24% per annum.

It has a term to maturity of 14 years, seven months and an initial term of 20 years. (NOPE)

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