Home Business FG to Raise N330billion Bonds in 2017 Q4

FG to Raise N330billion Bonds in 2017 Q4

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The Debt Management Office (DMO), on Wednesday said the Federal Government planned to raise between 270 billion and 330 billion naira-denominated bonds in the fourth quarter of the year.

In its latest issuance calendar, the DMO said it would auction between N135 and N165 billion worth of bonds maturing in 2021 and the same amount of the debt maturing in 2027.

The government issues bonds each month to help fund its budget deficit, support the local debt market and maintain a benchmark for companies to follow.

The federal government expects a shortfall of $7.5 billion for its 2017 budget, which it plans to raise in foreign loans from the World Bank, offshore and domestic markets.

 

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