DMO: FG to auction N135bn bonds August 23

The Federal Government has offered for subscription by auction, N135 billion bonds in its August 23 auction, says the Debt Management Office (DMO).
The offering circular, obtained from the DMO’s website on Tuesday in Abuja, indicated that it would sell N35 billion of a bond, to mature in July, 2021, at 14.50 per cent.
It would also sell N50 billion at 16.28 per cent to mature in March 2027, while another N50 billion of paper would be sold at 16.24 per cent, to mature in April, 2037.
All the bonds on offer are reopening of previous issues, the circular said.
Nigeria issues sovereign bonds monthly to support the local bond market.
It also created a benchmark for corporate issuance to fund its budget deficit.