Fed Govt September Bonds Oversubscribed By N215.22bn

The Federal Government’s bonds for the month of September worth N145bn which were auctioned on Wednesday, were oversubscribed by N215.22bn, the Debt Management Office disclosed on its website.

The total subscription received from investors for the bonds was N360.22bn, comprising N83.83bn for 12.5 per cent FGN January 2026 bonds; N71.4bn for 12.5 FGN March 2035 bonds; N41.06bn for 9.8 per cent FGN July 2045 bonds; and N163.93bn for 12.98 per cent FGN March 2050 bonds.

The auction results added that out of the 78, 71, 57, 104 total bids for the bonds, 50, 13, seven, and six bids were successful.

It stated that a total of N103.81bn bonds were allotted comprising of N66.97bn, 25.43bn, 6.81bn and N4.6bn respectively for the tenors.

The DMO stated that successful bids for the 12.5 per cent FGN January 2026, 12.5 per cent FGN March 2035, 9.8 per cent FGN July 2045 and 12.98 per cent FGN March 2050 were allotted at the marginal rates of 6 per cent, 8.52 per cent, 8.9 per cent and 8.94 per cent, respectively.

However, it added, the original coupon rates of 12.5 per cent for the 12.5 per cent FGN January 2026, 12.5 per cent for the 12.5 per cent FGN March 2035, 9.8 per cent for the 9.8 per cent FGN July 2045 and 12.98 per cent for the 12.98 per cent FGN March 2050 would be maintained.