Saturday, May 8, 2021
HomeGeneral InterestFGN Bond Rates Fall for All Maturities Tracked on Increased Demand…

FGN Bond Rates Fall for All Maturities Tracked on Increased Demand…

In the just concluded week, the value of FGN bonds traded at the over-the-counter (OTC) segment fell for all maturities tracked in line with our expectation.

Amid increased demand, the 5-year, 14.50% FGN JUL 2021 paper, the 7-year, 13.53% FGN MAR 2025 bond, the 10-year, 16.29% FGN MAR 2027 debt and the 20-year, 16.25% FGN APR 2037 instrument gained N0.99, N0.88, N1.30 and N1.96 respectively; their corresponding yields rose to 12.75% (from 13.33%),13.55% (from 13.77%), 13.75% (from 14.01%) and 14.07% (from 14.34%) respectively.

Elsewhere, the value of the FGN Eurobonds traded at the international capital market increased for all maturities tracked amid renewed bullish activity – the 10-year, 6.75% JAN 28, 2021, the 20-year, 7.69% FEB 23, 2038 and the 30-year, 7.62% NOV 28, 2047 bonds gained USD0.01, USD0.68 and USD0.85 respectively; their corresponding yields rose to 4.01% (from 4.05%), 7.46% (from 7.52%) and 7.59% (from 7.67%) respectively.

In the new week, Debt Management Office will issue bonds worth N145.00 billion, viz: 12.75% FGN APR 2023 (5-Yr Re-opening) worth N40 billion, FGN APR 2029 (10-Yr Re-opening) worth N50 billion and FGN APR 2049 (30-Yr Re-opening) worth N55 billion respectively.

We expect the bonds to be issued at lower stop rates amid sustained demand pressure on fixed income assets.

Anene Peters, Editor Naija247news
Anene Peters is an intern with Naija247news Media. He's focus is on tech and science. He's a graduate of Abia State University with a major in Computer Science and Communications. You can contact him for press events on 0903 927 6505

More Articles

WP to LinkedIn Auto Publish Powered By :