Saturday, February 17, 2018

Tag "Debt Management office"

    FG floats $2.5bn Eurobond, says debt level will not be affected

FG floats $2.5bn Eurobond, says debt level will not be affected

The federal government through the Debt Management Office (DMO) has floated a $2.5 billion Eurobond, making the fifth issuance in the country's history.According to a statement by Salisu Na'inna Dambatta, director of information at the ministry of finance, said it will be divided into two notes with different maturity periods."The notes comprise a $1.25 billion 12-year series and a $1.25 billion [...]

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    DMO: New $2.5bn Eurobond will be used to refinance old debts

DMO: New $2.5bn Eurobond will be used to refinance old debts

The Debt Management Office (DMO) says the proceeds from the planned $2.5 billion Eurobond will be used to refinance maturing domestic debt obligations of the federal government.The government had proposed a $5.5 billion Eurobond auction although it only issued $3 billion in 2017.In a statement sent to TheCable on Thursday, DMO said the proceeds will be converted to naira and [...]

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    DMO to roll over N1trn treasury bills in Q1 2018

DMO to roll over N1trn treasury bills in Q1 2018

The Debt Management Office (DMO) will roll over treasury bills worth N1 trillion in the first quarter of 2018, data made available by the Central Bank of Nigeria has shown.This represents 85 percent of the total bills that would mature in the first quarter.This comes after the Debt Management Office redeemed N198 billion worth of treasury bills with proceeds from [...]

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    Yet another FG bond oversubscribed

Yet another FG bond oversubscribed

The Debt Management Office (DMO) says the Sovereign Green Bond recorded oversubscription by 0.94 percent.This makes it the fifth federal government bond to record oversubscription in eights months.In June 2017, the federal government issued a $500m Eurobond which was oversubscribed by almost four times.In the same month, the diaspora bond, which was oversubscribed by 130 percent, was listed on the [...]

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    DMO: Foreign debt servicing hit $197.29m in Q3

DMO: Foreign debt servicing hit $197.29m in Q3

A total of $197.29m was spent on servicing Nigeria’s foreign debts in the third quarter of 2017 (Q3 2017), according to the Debt Management Office (DMO).Data obtained from the DMO on Wednesday showed that commercial loans or Eurobonds, accounted for the highest foreign debt payment, gulping 53 percent of the country’s external loan commitment.Following closely was multilateral sources which accounted [...]

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    FG lists $3bn Eurobond, diaspora bond on NSE

FG lists $3bn Eurobond, diaspora bond on NSE

The federal government has listed its $3 billion Eurobond and $500 million diaspora bond on the Nigerian Stock Exchange (NSE).Patience Oniha, director general of the Debt Management Office (DMO), disclosed this on Thursday.Shesaid the federal government would reduce the nation's debt cost in the coming years."We have already listed N1.5 billion early in the year, and we are coming toward [...]

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    FG floats N10bn Green bond — first of its kind

FG floats N10bn Green bond — first of its kind

The federal government, through the Debt Management Office (DMO), has launched a N10.69 billion Green bond to fund clean energy projects in the 2017 budget.The bond has a 5-year tenor and an interest rate of 13.45 percent.Subscription for the bond opened on Monday, December 18 and will close on Wednesday, December 20.Although Kenya announced plans to float a Green bond [...]

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    Nigeria’s debts on the rise — N20 trillion and still counting

Nigeria’s debts on the rise — N20 trillion and still counting

Data made available by the Debt Management Office (DMO) on Tuesday showed that Nigeria's debt stock has hit N20 trillion as at September 30, 2017.Domestic debt accounts for 76.96 percent of this figure while foreign debt accounts for 23.04 percent.In figures, domestic debt stood at N15.679 billion, an increase of 4.1 percent from the N15.034 trillion recorded in June.Foreign debt [...]

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    FG raises N6.7bn from savings bond in eight months

FG raises N6.7bn from savings bond in eight months

The federal government has raised N6.7 billion through the auction of savings bonds in the last eight months, the Debt Management Office (DMO) has said.An analysis of data from the DMO showed that the savings bond was highly subscribed in the first few months.At its debut offer in March, the debt office raised N2.068 billion from the 13.01 percent two-year [...]

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    Works ministry gets N100bn Sukuk proceeds

Works ministry gets N100bn Sukuk proceeds

The ministry of works, power and housing has received N100 billion proceeds from the Sukuk subscription.This comes nine working days after the subscription period of the non-interest bond.The offer period, which opened on September 14, closed on September 20. It was oversubscribed to the tune of N105.87 billion.At an event in Abuja on Thursday, Kemi Adeosun, minister of finance, handed [...]

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    Oniha: More Eurobonds to be released in late 2017

Oniha: More Eurobonds to be released in late 2017

Patience Oniha, director general of the Debt Management Office (DMO), says the federal government has plans to release more Eurobonds by the fourth quarter of 2017.Oniha made this known while speaking on the N100 billion Sukuk in an interview with Channels Television on Monday."On what the DMO is looking at to bring down debt service, one part of it is [...]

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    FGN bonds issued in ‘note format’

FGN bonds issued in ‘note format’

The Debt management Office (DMO) says the Federal Government of Nigeria bonds in the international market had been issued in global depository note (GDN) format.The GDN is a debt instrument created by a depositary bank that evidences ownership of a local currency denominated debt security.Dr Abraham Nwankwo (pictured), DMO Director General, said in a statement: "On Thursday, July 31, 2014, [...]

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    Nigerian Markets: End of week summaries

Nigerian Markets: End of week summaries

Stock MarketWeekly activities on the Nigerian Stock Exchange (NSE) ended on Friday on a negative note, as the All-Share Index dipped 0.10 per cent due to price depreciation. The index lost 40.96 basis points to close at 41,529.11 against 41,570.07 achieved on Thursday.Market capitalisation, which opened at N13.726 trillion, lost N14 billion or 0.10 per cent, to close at N13.712 [...]

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Exchange Rates

Feb 16, 2018USDGBPEUR
INTERBANK360.45487.18428.32
LAGOS364497448
KANO364495430
PH363498435
ABUJA365497434
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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