ABUJA, Nigeria (VOICE OF NAIJA)- The Debt Management Office (DMO) has allocated a total of N271.2 billion in the Federal Government’s bond auction held on March 24, 2025.
The allotment comprises N4.686 billion for the re-opening of the 19.30% FGN April 2029 bond (five-year tenor) and N266.542 billion for the re-opening of the 19.89% FGN May 2033 bond (nine-year tenor).
According to the auction results, the five-year bond attracted N59.069 billion in total subscriptions from 35 bids, with only three bids successfully allotted.
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In contrast, the nine-year bond garnered significantly higher interest, drawing N471.241 billion in subscriptions from 215 bids, of which 95 were successful.
The marginal rates stood at 19.00% for the five-year bond and 19.99% for the nine-year bond, while the original coupon rates of 19.30% (April 2029) and 19.89% (May 2033) remain unchanged.
Beyond competitive allotments, the DMO also assigned N91.3 billion in non-competitive allotments for the five-year bond and N61.15 billion for the nine-year bond.
The Federal Government, through the DMO, had earlier announced plans to raise N300 billion through the bond auction in March 2025.