The Nigerian government raised N380.76 billion in bond auctions, with the lowest subscriptions this year.
This is according to May’s bond auction, conducted on Monday.
The amount represents a 39 per cent decline compared to the April FGN bond auction proceeds.
The aggregate subscription across all tenors reached N551.316 billion, lower than the N920.08 billion recorded the previous month.
The Debt Management Office also reported a non-competitive allotment of N301.30 billion.
The new nine-year bond took centre stage, attracting N373.875 billion in subscriptions.
N285.124 billion was allotted of the subscription amount, including N179.00 billion under non-competitive bids.
The bids ranged from 16.95 per cent to 22.00 per cent, eventually settling at a marginal rate of 19.89 per cent.
The seven-year bond received N76.875 billion in bids, with N62.975 billion allotted. Non-competitive allotments accounted for N85.80bn. Bids ranged from 17.20 to 20.80 per cent, resulting in a final marginal rate of 19.74 per cent.
The five-year bond attracted bids totalling N100.56 billion, with an allotment of N32.67 billion. An additional N36.500 billion was allocated through non-competitive bids.
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