DMO To Raise N60bn Bonds, Today


The Debt Manage
ment Office (DMO) will today raise N60 billion worth of bonds in three categories.
This was contained in DMO bond circular posted on the company’s wedsite last week.
The categories include 20-year bond, 10-year bond and five- year bond, as DMO would issue N20 billion worth of bond in cash of the categories.
According to the statement, the maturity date of the bond include, July 2034, March 2024 and February 2020, respectively.
The statement also said that the three categories of bonds would open with different coupon rates.
DMO statement said that all the bonds would be re-opened, adding that the 20-year, 10-year and five-year bonds would have coupon rates of 12.15 per cent, 14.20 per cent and 15.54 per cent respectively.
Meanwhile, the yields on the Nigerian Treasury bonds are expected to fall at a primary auction this week due to lower supply.
The development followed the DMO’s decision to slash the amount of debt it will borrow.
Traders said some investors were taking profit in the market last week but this could be short-lived.
The Kenya debt yields are likely to climb as investors seek to push up rates on three-month treasury bills and other terms to improve on overnight rates which have been hovering around 10.65 per cent.


Lilian Peters