DMO To Raise N385 billion Bonds In First Quarter of 2018

The Debt Management Office has said it will raise between N315 billion to N385 billion from the federal bonds issuance in the first quarter of 2018.

This was disclosed in the FGN Bond Issuance Calendar for the first quarter of 2018 released on Thursday.

The calendar shows that the DMO plans to raise between N315 and N385 billion from FGN Bond Auctions during the quarter through three bonds: 14.50 percent FGN July 2021, the 16.2884 percent FGN March 2027, and a new 7-year bond.

The 2021 and 2027 are Benchmark Bonds which are actively traded. The offer of three different tenors is aimed at meeting investors’ varying needs,” the DMO said. The calendar is intended to enable investors to plan their investment activities for the quarter as well as raise funds for the government, the statement said.

Photo Caption: Patient Oniha DG DMO