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Buhari’s Government Targets N720bn In Q3’22

Buhari’s-led federal government says it projects to generate N720 billion in the third quarter of 2022.

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Buhari’s Government Targets N720bn In Q3’22

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

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

According to the calendar, on July 18, the DMO will re-open a 13 per cent, March 2025 FGN bond valued between N70 billion and N80 billion. It has a maturity date of two years, eight months, with an original 10-year tenor.

Also on July 18, the DMO will re-open a 12.5 per cent, 2032 FGN bond valued between N70 billion and N80 billion. It has nine years, nine months term-of-maturity; with a 10-year original tenor.

The office will, again, re-open a 13 per cent, January 2042 FGN bond valued between N70 billion and N80 billion on the same date. It has a 19-year and six months’ term-of-maturity, and an original tenor of 20-year.

On August 15, the DMO will re-open the 13.53 per cent, March 2025 FGN bond, valued between N70 billion and N80 billion, with two years and seven months in the term of maturity. It has an original tenor of 10 years.

On the same date, it will re-open the 12.50 per cent, 2032 FGN bond, valued between N70 billion and N80 billion, with a term of maturity of nine years and eight months. It has a 10-year original tenor.

Again, on August 15, it will re-open the 13 per cent, 2042 FGN bond, valued between N70 billion and N80 billion, with 19 years and five months as term of maturity. It has a 20-year original tenor.

The calendar also shows that, on September 19, the DMO will again re-open the 13.53 per cent, March 2025 FGN bond, valued between N70 billion and N80 billion. It has two years, six months term-of-maturity and a 10-year original tenor.

On September 19, the DMO will re-open 12.50, 2032 FGN bond valued between N70 billion and N80 billion, with nine years and seven months as term-of-maturity. It has a 10-year original tenor.

On the same date, the office will re-open the January 2042 FGN bond valued between N70 billion and N80 billion, with 19 years and four months as the term of maturity. It has an original tenor of 20 years.

Re-opening a bond issue refers to issuing additional amounts of a previously issued bond. Re-opened bonds have the same maturity date and as the original bonds, but they are sold on different dates and usually at different prices.

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

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