The Debt Management Office has opened a N1 trillion offer of two Federal Government of Nigeria bonds for subscription at N1,000 per unit.
The DMO said in a statement on Monday that the offer comprises a new 10-year FGN bond valued at N400 billion and due in September 2036.
It also includes a N600 billion reopening of a 15-year FGN bond due in 2038, with a coupon rate of 15.45% per annum.
The offer opened on Sept. 14, with settlement scheduled for Sept. 16.
The DMO said the bonds are offered at N1,000 per unit, subject to a minimum subscription of N50 million and in multiples of N1,000 thereafter.
It said interest on the bonds would be paid semi-annually, while the principal would be repaid in full at maturity.
The office added that the bonds are backed by the full faith and credit of the Federal Government and are listed on the Nigerian Exchange Limited and FMDQ OTC Securities Exchange.
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