Business
DMO plans N95bn bond auction, shortlist banks to manage $1bn Eurobond sale
The Debt Management Office, DMO, has unveiled plans to sell N95 billion ($301.8 million) of bonds this Thursday, November 17, it said at the weekend.
The debt office said it would sell N35 billion of a bond maturing in 2036, N25 billion of paper maturing in 2026 and N35 billion of debt maturing in 2021, using the Dutch auction system.
It said results of the auction are expected to be released on the following day. All the bonds on offer are re-openings of previous issues.
DMO issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit.
The Federal Government plans to borrow about N900 billion locally to finance part of the N2.2 trillion deficit in its 2016 budget. It is also seeking advisers and book-runners to manage a planned $1 billion Eurobond sale this year.
The DMO also has a short list of banks to manage its planned $1 billion Eurobond sale, but the government has not made a final decision.
The Federal Government wants to sell $1 billion in Eurobonds by the end of the year, although no bank has been appointed yet to arrange the issue.
-
Business6 days agoThe Pros and Cons of Nigeria’s $10bn Surge in Capital Importation
-
Business4 days agoGround handlers suspend services to Max Air over unpaid debts
-
Featured1 day agoTwo arrested after England team equipment stolen ahead of World Cup opener
-
Latest6 days agoKwankwasiyya dismisses reports of Kwankwaso’s exit from NDC
-
Featured6 days agoNigeria must move beyond zoning, choose leaders based on competence ahead of 2027 – Baba-Ahmed
-
Football1 week agoChristian Eriksen stable after collapsing during Denmark–Ukraine friendly
-
Latest5 days agoReps bar first-term lawmakers, block Ugochinyere’s bid for minority leader
-
Energy5 days agoWhat rising oil prices mean for the average Nigerian family