DMO to Raise $1.21bn in Q3 Amidst Macroeconomic Concerns

The Debt Management Office (DMO) has concluded arrangements to raise between N180 billion ($900 million) and N240 billion ($1.21 billion) from the sale of FGN bonds in the third quarter of 2015.
DMO disclosed this in its provisional issuance calendar for Q3 2015 released Monday in Lagos. The plan to raise such amount is coming amidst macroeconomic concerns driven by the Nigerian government lack of economic policy direction. The DMO in the provisional issuance calendar said it would sell the existing five-year and 20-year benchmarks (15.54 per cent Feb ’20s and 12.15 per cent Jul ’34s) each month in the quarter.The DMO also disclosed that it is not re-offering the 10-year benchmark (14.20 per end May ’24s), for which the bid in June fell as low as N3 billion in this quarter.

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