Federal government N150 billion bond oversubscribed – DMO – The Debt Management Office (DMO) has uncovered that the first N150 billion FGN securities sell-off for 2019 proposed in 3 instruments was oversubscribed.
As indicated by DMO, whole subscription from financial specialists for the securities was above N197 billion, demonstrating a subscription position of 131%.
Fruitful offers were allocated at the ratio of 15.20% for the 5-year, 15.25% for the 7-year & 15.35% for the ten-year securities.
The ratio for the distributions were constants with the return in the auxiliary market.
Financier first choice was mostly for the ten-year securities which had a subscription position of 299%.
As per its arrangement of keeping the administration’s borrowing costs at reasonable levels, the DMO assigned a sum of N116.98 billion to favorable candidates.
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