FG Offers Bonds Valued at N300bn for Auctioning – DMO

The Debt Management Office (DMO) said yesterday it would reopen two federal government bonds for auctioning, valued at N300 billion, for subscriptions of N1,000 per unit.

The FGN savings bond offers are targeted at retail investors with guaranteed quarterly interest payment and repayment of the principal at maturity.

The DMO in a statement on Tuesday said the offers will be auditioned on March 24 with settlement date by March 26.

DMO said the transactions will be at N1,000 per unit subject to a minimum subscription of N50,001,000 and in multiples of N1,000 thereafter.

The agency also said the interest is payable semi-annually with the redemption expected to be in bullet payment on the maturity date.