DMO rakes in N312.56bn subscriptions with 4 new instruments

The Debt Management Office (DMO) received a total subscription of ₦312.56 billion on Monday amidst monetary policy tightening and uncertainties following the August FGN Bond Auction .

During the auction, four instruments were offered to investors at N90 billion each and they are 4.55 percent FGN APR 2029, 14.70 percent FGN JUN 2033, 15.45 percent FGN JUN 2038 and 15.70 percent FGN JUN 2053) for.

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“Investors’ appetite for the 15.70 percent FGN JUN 2053 (30-year Bond) remained strong, with a bid-to-cover ratio of 2.71 times,” it said in a statement.

A total of N227.76 billion was allotted to successful bidders for the four instruments was which were made at 13.85 percent for the 14.55 percent FGN APR 2029, 15.00 percent for the 14.70 percent FGN JUN 2033, 15.20 percent for the 15.45 percent FGN JUN 2038 and 15.85 percent for the 15.70 percent FGN JUN 2053.