DMO plans to raise N100bn in July

The Debt Management Office (DMO) says it plans to raise N100 billion worth of bond in three categories in July. This is contained in a circular posted on DMO’s Website on Wednesday. According to DMO, the three bonds are in 20-year; 10-year and three-year bond categories. The DMO said that it would issue N35billion worth of the 20-year bond; N50 billion for 10-year and N15 billion worth in the three-year bond category.

It also said that the three categories would mature in July 2034, March 2024 and August 2016 respectively. It said that the 10-year and three-year bonds, which could be re-opened, had coupon rates of 14.20 per cent and 13.05 per cent. The DMO, however, added that the coupon rate for the 20-year bond had not been determined because it was a new bond. It said that the bonds would be auctioned on July 16 while settlement