DMO to issue N90b worth of bonds on January 15

The Debt Management Office says it will on January 15 auction N90 billion worth of Federal Government bonds, which will mature in 2016 and 2030.
The DMO in its January 2014 FGN Bond Circular on its Website on Friday, said settlement for the bonds would take place on January 17.
The debt office said it would issue N45 billion for the three-year bonds, which would mature in August 2016 and the 20-year bond, which would mature in July 2030.
It also said that the issuance of the bonds would be re-opening of previous issues.
The DMO said that the three-year bond would be issued at 13.05 per cent yield rate, while the 20-year bond would be issued at 10 per cent yield rate.
The DMO also on December 11, 2013 sold three-year and 20-year papers.
It said that the three-year bond worth N40 billion would mature also on August 16, 2016 and the 20-year bond worth N35 billion would mature on July 23, 2030.