FG to Issue 30-year Bond April 24 - THISDAYLIVE via thisdaylive
The Debt Management Office says the Federal Government will on April 24, issue a 30-year bond for the first time.
Other bonds on offer are a 10-year new issue of N40 billion to mature in April 2029 and a five-year re-opening of N40 billion to mature in April 2023, which was offered at 12.75 per cent.Ms Patience Oniha, the Director-General, DMO had at a news conference on April 4, revealed plans by the Federal Government to issue the 30-year paper.
“The issuance of the bond will meet the needs of annuity funds and other long term investors while also developing the domestic capital market and reducing the re-financing risk of the Federal Government. She added that the 30-year issue would enable government raise long-term capital for infrastructure, serve as benchmark for private sector raising of long-term investment capital.According to DMO, units of sale is N1,000 per unit, subject to a minimum subscription of N50 million and in multiples of N1,000 thereafter.
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