The Debt Management Office (DMO) has released the federal government Bond Issuance calendar for the first quarter 2018.
According to the agency, the calendar is intended to enable investors plan their investment activities for the quarter as well as raise funds for the government.
The Bonds have a wide range of investors, both domestic and international, and the issuance calendar is one of the key information requirements used for planning their activities.
The calendar showed that the DMO plans to raise between N315 and N385 billion from the Federal Government of Nigeria Bond Auctions during the quarter through three bonds, the 14.50 percent Federal Government of Nigeria July 2021, the 16.2884% FGN March 2027 and a new seven-year bond.
The 2021 and the 2027 are benchmark bonds which are actively traded.
The offer of three different tenors is aimed at meeting investors’ varying needs.
The DMO stated that its Domestic Issuance programme for the year is structured to ensure that the funds required to finance the budget deficit would be fully provided over the course of the year as required by its mandate, while also ensuring that the federal government securities market is efficient, robust and very liquid.
Federal Government of Nigeria (FGN), Securities have provided an avenue for market-based financing of the government’s operations, while also leading in initiatives that have led to the development of other segments of the financial market, particularly the corporate sector.