The Federal Government is aiming to raise at least N450 billion through its latest bond offer, which is set to mature in June 2024. The Debt Management Office (DMO) announced this in a statement on Thursday in Abuja.
The bond offer, which will be conducted by auction, consists of three different re-openings, each with specific maturity dates and interest rates. The auction, originally planned for June 17, has been rescheduled to June 24 due to the Sallah holiday. The settlement date for the bonds remains June 26.
To participate, the minimum subscription requirement is N50,001,000, and subsequent bids must be in multiples of N1,000. This offer is in accordance with the Debt Management Office (Establishment) Act of 2003 and the Local Loans (Registered Stock and Securities) Act, CAP. L17, LFN 2004, providing a legal framework for the bond issuance.