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Nigeria offers N60bn worth of bonds on June 27


Jaafar Jaafar
Jaafar Jaafar is a graduate of Mass Communication from Bayero University, Kano. He was a reporter at Daily Trust, an assistant editor at Premium Times and now the editor-in-chief of Daily Nigerian.
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The Federal Government has offered for subscription by auction N60 billion worth of bonds in its June 27 auction, the Debt Management Office, DMO, has said.

The offer circular obtained from its website on Tuesday in Abuja, stated that it would sell N20 billion of a five year re-opening issue maturing in April 2023 at 12.75 per cent.

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It would also sell N20 billion seven year re-opening bond to mature in March 2025 at 13.53 per cent and another N20 billion 10 year re-opening at 13.98 per cent to mature in Feb. 2028.

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Nigeria issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit.


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