DMO to raise N385b bonds in Q1 of 2018

DMO to raise N385b bonds in Q1 of 2018

By Tunde Osho

The Debt Management Office, DMO, has announced plans to raise between N315billion to N385billion 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 in a statement.

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% FGN July 2021, the 16.2884% 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.