A total of N60bn bond offered in December 2020 was oversubscribed by more than N74bn.
The Debt Management Office disclosed this in a statement obtained from its official website.
It stated, “The Debt Management Office offered a total of N60bn at the Federal Government of Nigeria Bond Auction of December 2020, which [was] held on December 16. The offer was oversubscribed as total bids received were N134.056bn, a subscription level of over 220 per cent.”
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The DMO explained that the rates of 6.945 per cent and seven per cent for the 15-year and 25-year bonds, were higher than the rates of five per cent and 5.785 per cent at the last auction in October.
“The rates reflect the level of interest rates in the market influenced in part by monetary policy actions,’’ it said.
The bonds are debt securities issued on behalf of Nigeria’s government.
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