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DMO announces April 2021 FGN Savings Bond offer for subscription

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The Debt Management Office (DMO) has offered for subscription, the April 2021 Federal Government of Nigeria Savings Bond.

This is contained in a statement posted on the website of the DMO on Monday, April 5.

Techeconomy.ng can report that the savings bond offer comes in two tranches which include 2-Year FGN Savings Bond due April 14, 2023: 5.522% per annum and 3-year FGN Savings Bond due April 14, 2024: 6.522% per annum.

See the major highlight below:

  • Opening Date: April 6, 2021
  • Closing Date: April 9, 2021
  • Settlement Date: April 14, 2021
  • Coupon Payment Dates: July 14, October 14, January 14, and April 14
  • Units of sale: N1,000 per unit subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50 million.

The statement read that the offer is backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria.

It further stated that interested investors were however advised to visit their website in order to get the list of stockbroking firms appointed as distribution agents.

This medium previously reported that the DMO had announced that the federal government’s bonds for March worth N150bn which were auctioned on Wednesday were oversubscribed by N183.48bn.

The total subscription, according to the DMO, received from investors for the bonds was N333.48bn comprising of N65.25bn for 16.2884 percent FGN March 2027 bonds; N110.19bn for 12.5 percent FGN March 2035 bonds; and N158.04bn for 9.8 percent FGN July 2045 bonds.

This medium previously DMO had announced that the federal government’s bonds for March worth N150bn which were auctioned on Wednesday were oversubscribed by N183.48bn.

The total subscription, according to the DMO, received from investors for the bonds was N333.48bn comprising of N65.25bn for 16.2884 percent FGN March 2027 bonds; N110.19bn for 12.5 percent FGN March 2035 bonds; and N158.04bn for 9.8 percent FGN July 2045 bonds.

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The Office added that out of 82, 125 and 215 total bids for the tenures, 48, 88 and 176 were successful.

The DMO stated that a total of N262.1bn was allotted, comprising of N44.01bn, N86.29bn and N131.80bn respectively.

It said: “Successful bids for the 16.2884 percent FGN MAR 2027, 12.5 percent FGN MAR 2035 & 9.8 percent FGN JUL 2045 were allotted at the marginal rates of 10.5 percent, 11.5 percent and 12 percent respectively.

“However, the original coupon rates of 16.2884 percent for the 16.2884 percent FGN March 2027, 12.5 percent for the 12.5 percent FGN March 2035, and 9.8 percent for the 9.8 percent FGN July 2045 will be maintained.”

 

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  1. Pingback: DMO announces April 2021 FGN Savings Bond offer for subscription - 9jaheadies

  2. Pingback: DMO Announces April 2021 FGN Savings Bond Offer For Subscription | Techvalley

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