DMO opens March savings bond offer

The Debt Management Office (DMO) yesterday opened offer for the Federal Government of Nigeria’s savings bond for March 2020 with yields lower than what it offered in February.

The offer circular showed that it is offering the 2-year FGN savings bond due March11, 2022, at 4.131 per cent, while the 3-year FGN savings bond due March 11, 2023, was offered at 5.131 per cent per annum.

Last month, the DMO raised N656.577 million through two bond offerings.

Coupon on the 2-year Savings Bond for February was 5.910 per cent, while the 3-year bond was raised at 6.910 per cent, higher than 4.131 and 5.131 per cents which it is offering for the 2- and 3- year papers in March.

Last month, it had raised N295.02 million in the two-year paper, while it raised N361.557 million on the three-year paper. This was lower than what it raised from the two papers in January this year. It had raised N454.352 million from the 2-year bond which was offered at 7.144 per cent.