The Debt Management Office (DMO) on Wednesday said it recorded over 60% subscription on its N100bn bond auction for the month of June.
Subscriptions for the three instruments from competitive bids was slightly above N160.00 billion, indicating an over subscription of 60%,the debt management office said in a statement late Wednesday.
For the month of June,the debt management office offered three instruments totalling N100 billion to the investing public at the Auction with 5, 10 and 30-year tenors.
According to the debt management office,the high level of demand shown by Investors at FGN Bond Auctions in recent months has continued at the FGN Bond Auction for June 2019 which was conducted by the Debt Management Office (DMO) on Wednesday, June 26, 2019.
It notes further that Investors’ appetite for longer tenured instruments remained strong, with the 30-year bond oversubscribed by 100%.
The 10-year Bond,it said was also oversubscribed by over 50%, while the 5-year tenor was 31% oversubscribed.
Also,allotments were made to successful Bidders at 14.3% for the 5-year, 14.5% for the 10-year and 14.68% for the 30-year Bonds. Total allotments from the competitive offer was N96.84 billion.
In addition, an allotment of N13.50 billion was made on non-competitive basis for the 10-year bond, also at the rate of 14.5%.
HARRISON EDEH,ABUJA
