FG offers N90b worth of bonds

The Federal Government has offered for subscription by auction N90 billion worth of bonds in its August 15 auction, the Debt Management Office has said.
The offer circular obtained from its website on Thursday in Abuja, showed that it would sell N25 billion of a five year re-opening issue maturing in April 2023 at 12.75 per cent.
It would also sell N25 billion seven year re-opening bond to mature in March 2025 at 13.53 per cent and another N40 billion 10 year re-opening at 13.98 per cent to mature in February 2028.
Nigeria issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit.