DMO to sell N130bn worth of bonds

Abraham Nwankwo, Director General of Nigeria’s Debt Management Office

The Debt Management Office (DMO) says it will raise N130billion worth of bonds in three categories on Jan. 18.

The DMO said this in its January “Bond Circular” posted on its website on Tuesday.

The News Agency of Nigeria (NAN) reports that the issuance will be the first in 2017.

According to the DMO, the three categories of bonds include a 20-year bond, a 10-year bond and a five-year bond.

It said the 20-year bond would be N40billion, the 10-year and five-year bonds would be worth N50billion and N40billion, respectively.

The DMO also said the three categories of bonds would mature in March 2036, January 2026 and July 2021, and have different coupon rates of 12.40 per cent, 12.50 per cent and 14.50 per cent, respectively.

It added that all the bonds would be “re-opening.’’ while the settlement date would be on Jan. 20. (NAN)