• Thursday, April 25, 2024
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CBN may sell N410bn worth of bonds in second quarter 2013


The Debt Management Office (DMO) says the Central Bank of Nigeria (CBN) may sell as much as N410 billion worth of bonds during the second quarter of this year.

The DMO disclosed this in its provisional calendar published on the website.

It said that bond sales for the quarter would open on April 17.

According to DMO, the bonds to be sold in April will include N25 billion to N45 billion bonds each of seven-year, 10-year and 20-year tenor.

It said that the bonds were expected to mature in June 2019, January 2022 and July 2030 with coupon rate of 16 percent, 16.39 percent and 10 percent, respectively.

The DMO also said that it would on May 15 issue another set of three bonds which will include N25 billion to N45 billion bonds of five-year bonds.

Others are N10 billion to N20 billion bonds of five-year tenor and seven-year tenor bonds of between N20 billion and N30 billion.

The DMO also said that the N25 billion to N45 billion bond of five-year tenor would mature in April 2017 at 15.10 percent yield rate.