Image: www.herald.ng

Image: www.herald.ng

The Debt Management Office (DMO) says it will raise N110 billion worth of bonds in three categories on Aug. 17.

The DMO said this in its August “Bond Circular’’ posted on its website.

It said the tenor of the bonds would be in three categories of 20 years, 10 years and five years duration.

Forty billion Naira worth of bonds would be raised for the 20-year tenor, N30 billion would be raised for the 10-year bond, while N40 billion worth would be raised of the five-year bond.

Consequently the three categories of bonds would mature in March 2036, January 2026 and July 2021, respectively.

The DMO said the three categories of bonds would have different coupon rates of 12.40 per cent, 12.50 per cent and 14.50 per cent, respectively.

It said settlement date for the bonds would be August 19.

The DMO raised N120 billion worth of bonds in three categories for its July “Bond Circular’’.

Author: Cerebral Lemon