Debt Management Office (DMO) has opened an auction for its fourth tranche of the N360 billion savings bond.
Consequently, it has sought applications of 1,000 per unit subject to a minimum subscription of N50,001,000 and in multiples of N1,000 thereafter.
The office on Wednesday disclosed that the auction would hold on Monday, June 19, 2023, while the settlement date would be on Wednesday, June 21, 2023, and interest payment is semi-annually. The DMO had issued the first three tranches of N90 billion in January, March and May with 13.98 percent interest and 10 years reopening. This is followed by a N90 billion bond which would be reopened after 10 years, another at 15 years, and a 30-year reopening.
“For re-openings of previously issued bonds, where the coupon is already set, successful bidders will pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned, plus any accrued interest on the instrument,” DMO stated.
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