DMO Cuts Rates on Bond Amid Surging Demand - InsideBusiness - Business News in Nigeria

DMO Cuts Rates on Bond Amid Surging Demand - InsideBusiness - Business News in Nigeria

The Debt Management Office (DMO) has lowered the interest rate on its April 2029 bonds at a recent primary market auction, capitalising on robust demand from investors eager to secure naira-denominated assets. The DMO offered N100 billion in bonds, evenly divided between a reopened 5-year bond and a newly issued 7-year bond, each worth N50 billion. Total subscriptions reached an impressive N602.855 billion, six times the offered amount, enabling…

DMO Slashes 2029 Bond Rate Amid Investor Rush » News.ng

At its latest auction, the Debt Management Office (DMO) reduced the interest rate on Nigerian bonds maturing in April 2029 due to a surge in investor demand. The DMO offered ₦100 billion in bonds—split evenly between a reopened 5-year bond and a new 7-year issue—and received overwhelming bids totalling ₦602.86 billion. This strong appetite allowed the office to lower the spot rate on the 5-year reopening by 123 basis points to 17.75%. AAG Capita…