{"id":30843,"date":"2019-03-28T14:00:40","date_gmt":"2019-03-28T13:00:40","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=30843"},"modified":"2019-03-28T14:00:40","modified_gmt":"2019-03-28T13:00:40","slug":"investors-oversubscribe-march-fgn-bonds-by-n140bn","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/investors-oversubscribe-march-fgn-bonds-by-n140bn\/","title":{"rendered":"Investors Oversubscribe March FGN Bonds By N140bn"},"content":{"rendered":"<p>The Debt Management Office on Wednesday said that FGN Bonds offered to investors for the month of March was oversubscribed by N140bn.<\/p>\n<p>In a statement made available to our correspondent in Abuja, the DMO said it offered N100bn bonds but received a subscription of N240.6bn.<\/p>\n<p>The DMO said, \u201cThe FGN Bond auction for March 2019 conducted on Wednesday at which N100bn bonds were offered was oversubscribed just as in the auctions for January and February.<\/p>\n<p>\u201cWe offered three instruments at the auction for three, seven and 10-year tenors and subscriptions for the three instruments was in excess of N148bn for competitive bids. Non-competitive bids valued at N92.6bn were also received, taking the total\u00a0 subscriptions across the three tenors to over N240.6bn.\u201d<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p>It added, \u201cThe trend of investors\u2019 preference for the longer tenured instrument continued, with the 10-year bond significantly oversubscribed with a bid-to-cover ratio above five.\u201d<\/p>\n<p>\u201cAllotments were made to successful bidders at the rates of 13.5 per cent for the five-year, 13.5 per cent for the seven-year and 13.5 per cent for the 10-year bonds, which are considerably lower than the allotment rates for the February 2019 auction.\u201d<\/p>\n<p>The DMO said that total amount allotted to both competitive and non-competitive bids for the three instruments was N121.95bn.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Debt Management Office on Wednesday said that FGN Bonds offered to investors for the month of March was oversubscribed by N140bn.<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":16213,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17],"tags":[812],"coauthors":[2391],"class_list":["post-30843","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","tag-dmo"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - 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