The Debt Management Office (DMO) has announced it recorded subscriptions to the tune of N495.95bn in its April bond auction.
This represented a massive over-subscription, indicating an increased confidence in Nigeria amongst investors as a total of ₦350b had been offered up for subscription.
There was also a total allotment of ₦397.89bn with the 19.30% FGN APR 2029 (5-Year Re-opening) allotted at 19.00% and the 19.89% FGN MAY 2033 (9-Year Re-opening) allotted at 19.99%.
In its March auction, The DMO offered two reopened bonds: the 19.30% FGN APR 2029 (5-Year Bond) with a Marginal Rate of19% and a Coupon Rate of 19.30%. For this, ₦4.686 billion was allotted. For the 19.89% FGN MAY 2033 (9-Year Bond) with a Marginal Rate of 19.9900% and a Coupon rate of 19.89%, the amount allotted was ₦266.542 billion.
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