The Debt Management Office has allotted a total of N271.2bn in the Federal Government’s bond auction held on March 24, 2025.
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The allotment includes N4.686bn for the 19.30 per cent FGN April 2029 re-opening (five-year bond) and N266.542bn for the 19.89 per cent FGN May 2033 re-opening (nine-year bond).
According to the auction results, the five-year bond received a total subscription of N59.069bn from 35 bids, with only three bids being successful. Meanwhile, the nine-year bond saw a significantly higher investor interest, attracting N471.241bn in subscriptions from 215 bids, out of which 95 were successful.
The marginal rates stood at 19.00 per cent for the five-year bond and 19.99 per cent for the nine-year bond. However, the original coupon rates of 19.30 per cent for the April 2029 bond and 19.89 per cent for the May 2033 bond will be maintained.
In addition to the competitive allotments, the DMO also allotted N91.3bn in non-competitive allotments for the five-year bond and N61.15bn for the nine-year bond.
Recall that the Federal Government, through the Debt Management Office, announced a bond offer for subscription by auction on March 24, 2025, to raise a total of N300bn this month.
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