The Federal Government on Tuesday announced the listing of a N368.3 billion FGN bond along with N234 billion in supplementary bond issues on the Nigerian Exchange Limited for issuance to investors.
In a notice filed on the Exchange by the Head of the Issuer Regulation Department, Obioma Oge, the newly listed bond, named FGN JAN 2035, has a total value of N368,309,761,000 and 368,309,761 units issued. The bond comes with a 22.60% coupon and a 10-year tenor.
The Notice further indicated that January 29, 2025 is the bond’s issuance date with a maturity date of January 29, 2035 as maturity date and coupon payments due twice on 29 July and 29 January each year.
According to the information on the bond as filed by the Nigerian Exchange, apart from the new listing, supplementary listings were made for two other FGN bonds.
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The 19.30% FGN APR 2029 bond had a total of 463,161,536 units outstanding as of February 18, 2025, after the issuance of 78,859,905 additional units while the 18.50% FGN FEB 2031 bond recorded an increase in total outstanding units to 2,108,213,312, following the issuance of 153,869,360 additional units.
The FGN bond has remained one of the debt instruments being used by the Federal Government to bridge funding gaps in its yearly budgets over the past few years with subscription for the domestic and international bonds surpassing the offers in most cases.
