Investors over-subscribe 30-year FGN bond by N100 billion

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Ms Patience Oniha, Director-General, Debt Management Office, Nigeria

The Debt Management Office (DMO) yesterday said its longest debt paper so far – the 30-year May 2019 FGN Bond auction – again attracted over-subscription like it did the previous month.

The agency submitted that it was oversubscribed byN100 billion far from the N30 billion offer.

The DMO, in a statement, stated: “Three instruments for 5, 10 and 30-year tenors were offered to the investing public, with a total amount offered of N100 billion but as with the April auction when the 30-year Bond was first offered to the market, investors showed a stronger demand for the 30-year Bond with subscription of over N100 billion compared to the N30 billion offered.”

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