Dear All,
The Federal Government of Nigeria (FGN), through the Debt Management Office, will be conducting a primary market bond auction on Wednesday, 17 November 2021.
The government is seeking to raise up to NGN150bn via three (3) instruments which are re-openings. Given our analysis of the current yield environment vis-à-vis our bond valuation models, we present below our advised bid rates;
12.50% FGN JAN 2026 11.30%-11.60%
16.25% FGN APRIL 2037 12.80%-13.00%
12.98% FGN MAR 2050 13.05%-13.25%
Kindly find attached the full report.
Regards,
