Fed Govt bonds over-subscribed by N65b – The Nation
November 23, 2009 by Bunmi Awolusi
Federal Government of Nigeria (FGN) bonds put up for sale were over-subscribed by more than N65billion, the Debt Management Office (DMO) has said.
The transaction, which is the final auction for 2009, held last week.
A statement issued by the Director-General of the Debt Management Office (DMO), Dr. Abraham Nwankwi, said the bonds offered were in tenors of 3, 10, and 20 years.
A breakdown of the auction results showed that whereas the DMO offered N15 billion of the 3-year bond, total subscription was N43.40billion, representing a subscription rate of over 289 per cent.
