FG targets N720bn in Q3, as DMO releases bond issuance calendar

The Federal Government is set to generate about N720 billion in the third quarter of 2022 from FGN Bonds.

This is according to “FGN Bond Issuance Calendar For Third Quarter, 2022” as released by the Debt Management Office (DMO).

The calendar shows that the DMO will re-open nine previously issued FGN Bonds between July and September.

It has a maturity date of two years, eight months, with original 10-year tenor.

Also on July 18, the DMO will re-open a 12.5 per cent, April 2032 FGN Bond valued at between N70 billion to N80 billion.

It has nine years, nine months term-of-maturity; with 10-year original tenor.

The office will, again, re-open a 13 per cent, Jan. 2042 FGN Bond valued at between N70 billion to N80 billion on the same date.

It has 19 years, six months term-of-maturity, and an original tenor of 20-year.

On Aug. 15, the DMO will re-open the 13.53 per cent, March 2025 FGN Bond, valued at between N70 billion to N80 billion, with two years, seven months as term-of-maturity.

It has an original tenor of 10-year.

On the same date, it will re-open the 12.50 per cent, April 2032 FGN Bond, valued at between N70 billion to N80 billion; with term-of-maturity of nine years, eight months.

It has a 10-year original tenor.

Again, on Aug. 15, it will re-open the 13 per cent, 2042 FGN Bond, valued at between N70 billion to N80 billion; with 19 years, five months as term-of-maturity.

It has a 20-year original tenor.

Re-opening a Bond issue refers to  issuing additional amounts of a previously issued Bond.

Re-opened Bonds have the same maturity date and interest rate as the original bonds, but they are sold on different dates and usually at a different price.

The DMO, however, said that the calendar was provisional and could be subject to change at short notice.