DMO records 1,322 successful subscriptions, N1.7bn allotment in June FGN bond offers

The Debt Management Office (DMO) says it recorded 1,322 successful subscriptions and N1.7 billion total allotments in its two Federal Government of Nigeria (FGN) bond offers for June.

This is contained in the FGN bonds allotment result released by the organisation.

The News Agency of Nigeria (NAN) reports that the DMO offered two FGN bonds for subscription on June 6.

The first one was a June 2024 FGN bond at interest rate of 8.20 per cent per annum, while the second one was a June 2025 FGN bond at 9.20 per cent per annum.

Settlement date for both offers were June 15, 2022 and coupon payment dates are Sept. 15, Dec. 15, March 15 and June 15. They have a two-year and three-year tenor respectively.

According to the DMO, the June 2024 FGN bond offer received 701 successful subscriptions and N759.92 million total allotment, while the June 2025 bond received 621 successful subscriptions and N1.104 billion allotment. (NAN)