FGN Bonds attract oversubscription

FGN Bonds attract oversubscription

Emma Ujah

Investor confidence in Federal Government of Nigeria’s Securities remained high at the FGN Bond Auction conducted by the Debt Management Office (DMO) on Wednesday, October 23, 2019, as reflected by the very high subscription level at the Auction.

The DMO o/ered three (3) Instruments (5-year, 10-year and 30-year bonds) with a total face value of N150.00 billion which were well received by investors.

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Total subscriptions received from competitive bids for the instruments was N255.99 billion, indicating a subscription level of 171 per cent.

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