BY Oluseyi Awojulugbe
The Debt Management Office (DMO) says the 10-year tenor bond was oversubscribed by 97% in the just concluded October auction.
According to a bond summary released by the agency, the five-year tenor bond only recorded six percent subscription.
Out of the N50 billion offered for each bond, the five-year tenor bond recorded N3 billion subscription from six successful bids while the 10-year tenor bond recorded N97 billion subscription from 67 successful bids.
The 20-year tenor bond was not placed on offer.
“In addition, N21.13 billion of the 16.2884% FGN MAR 2027 was alloted on non-competitive basis,” the DMO said.
In September, the DMO offered a total of N150 billion for the five-year, 10-year and 20-year tenor bonds at N50 billion each.
According to the September auction results, the five-year bond recorded a subscription of N32.26 billion out of the N50 billion offered.
The 10-year tenor bond recorded a subscription of N76.93 billion while the 20-year tenor bond recorded a subscription of N131.59 billion.
In August, the bonds recorded a total subscription of N56.05 billion, a figure less than half of the N135 billion offered.
Last month, the DMO in collaboration with the ministry of finance and ministry of power, works and housing, launched a N100 billion Sukuk for the construction of 25 roads across the six geopolitical zones in the country.
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