The federal government through the Debt Management Office(DMO) has raised N200.58 billion at the August 2022 bond auction held on Monday.
This is lower than the N225 billion it initially set out to raise through the auction.
The DMO had planned to raise N75 billion each through reopenings of the 13.53 per cent FGN MAR 2025 10 year paper, 12.5 per cent FGN APR 2032 10 year paper and 13 per cent FGN JAN 2042 20 year paper.
At the end of the auction, it raised N4.21 billion through the 2025 bond at 12.5 per cent, despite a subscription of N23.014 billion while N28.84 billion was allotted out of the N40.79 billion subscription for the 2032 paper at 13.5 per cent.
The largest amount was raised through the 2042 paper where N167.53 billion was allotted from the N183.28 billion subscription at 14 per cent. There was allotment through competitive bid.
In the first three months of this year, the government had paid out N630.53 billion as interest on the FGN bonds obligation bringing total domestic debt service between January and March this year to N668.685 billion.