Nigeria To Sell 140 Billion Naira Bonds On June 21 - DMO
This is the best time to lend money to the government and make cool cash for yourself.
The federal government is providing another opportunity for people to invest.
It plans to auction 140 billion Naira in bonds on June 21.
This is according to the Debt Management Office, that disclosed this on Friday.
The debt office will sell 40 billion naira of bonds that will mature in 2021 and 50 billion Naira each of bonds due in 2027 and in 2037, using a Dutch auction system.
If you subscribe to any of these bonds, you must pay the money the next day – in this case on June 22.
CBN on Wednesday, also announced plans to sell 133.24-billion-naira worth of Treasury bills at an auction next week.
Nigeria issues sovereign bonds each month to help fund its budget deficit, support the local debt market and maintain a benchmark for companies to follow.
The government expects a budget deficit of 2.36 trillion Naira this year as it tries to spend its way out of a biting recession.
It expects to raise money, mostly by borrowing, to cover more than half the deficit.
At the moment, it has a series of debt issues lined up including a $300 million diaspora bond and a 100 billion naira debut domestic sukuk this month.