The Debt Management Office has successfully raised ₦100 billion from its June 2025 bond auction, split evenly between a five‑year reopening and a new seven‑year issuance. Held on Monday, the auction forms part of the federal government’s domestic borrowing strategy to finance the 2025 national budget and manage public debt.
The five‑year reopening bond, maturing on 17 April 2029 with a 19.30% coupon rate, drew 30 bids totalling ₦41.685 billion, but just two were accepted with an allotment of ₦1.050 billion at a marginal rate of 17.75%. In contrast, the newly issued seven‑year bond, maturing on 25 June 2032 at a 17.95% coupon, attracted 209 bids amounting to ₦561.170 billion, with 41 successful bids totalling ₦98.950 billion.
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Both bonds are priced at ₦1,000 per unit, with minimum subscriptions of ₦50.001 million and increments thereafter of ₦1,000. Investors will receive semi‑annual interest payments, and principal repayment will be made in a lump sum at maturity.
Proceeds from the auction will be settled on Wednesday, 25 June 2025, and are expected to help the government meet its financing needs and public obligations under the regulatory frameworks of the DMO and the Local Loans Acts.
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