DMO raises N95bn bonds on March 11

The Debt Management Office says it will raise N95bn worth of bonds in three categories on March 11.

The DMO made the disclosure in its ‘Bond Circular’ posted on its website on Friday.

According to the DMO, the three categories of bonds will include 20-year bond, 10-year bond and five-year bond.

It said the 20-year bond would be N30bn, while the10-year bond is worth N30bn and N35bn worth of the five-year bonds.

It added that the three categories of bonds would mature in July 2034, March 2024 and February 2017 respectively.

The DMO said the three categories of bonds also had different coupon rates.

“The 20-year, 10-year and five-year bonds will have coupon rates of 12.15 per cent, 14.20 per cent and 15.54 per cent respectively,” it said.

It said the settlement date would be March 13.