DMO to raise N1.8trn debt via fresh April Savings Bond

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The Debt Management Office, DMO, has unveiled plans to raise N1.8 trillion through new issuance and reopening of federal government bonds over the next three months amid the country's increasing debt stocks. This is as DMO opened offer for the April 2024 Savings Bond.

The Debt Management Office, DMO, has unveiled plans to raise N1.8 trillion through new issuance and reopening of federal government bonds over the next three months amid the country's increasing debt stocks. This is as DMO opened offer for the April 2024 Savings Bond. The debt office in the bond issuance calendar for the second quarter of 2024 said it plans to raise between N300 billion to N600 billion every month between April and June this year.

Meanwhile, it plans to raise more funds this week through the 2-year and 3-year savings bonds due April 2026 and April 2027. According to the offer document, the DMO is issuing the 2-year paper at 17.046 per cent per annum while the 3-year paper is being issued at 18.046 per cent per annum. Last month, it issued the 2-year savings bond at 15.097 per cent, while the 3-year paper was raised at 16.097 per cent.

 

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