February 2020 FGN Bond Auction Oversubscribed
The February 2020 FGN Bond Auction by Debt Management Office (DMO) which took place on Wednesday, February 19, 2020, was significantly oversubscribed.
The DMO offered N140.00 Billion across three (3) Instruments to investors at the Auction (5-Year tenor: N45.00 billion 10-Year tenor: N45.00 and 30-Year tenor: N50.00 billion).
Subscriptions received through Competitive Bids for the three instruments was N398.20 billion, indicating a total subscription level of 284.43%.
While Non-Competitive bid for the sum of N60 billion was also received, making the total subscriptions from Competitive and Non-competitive bid to the sum of N458.20 billion.