BONDS - FG sees high demand subscription   

May 13 (Lagos) - The DMO offered N 450.00 billion but allotted a total of N 380.77 billion across the 3 tenors.

Total subscription was N 551.32 billion.  

Total bid to cover ratio was 1.45x.

The DMO also allotted a total of N 350 billion to Non-competitive bids (2029s: N 50 billion; 2031s: N 100 billion and 2033s: N 200 billion).

The stop rate for the 2029 and 2031 papers were issued slightly lower than the previous auction at 19.29% (-0.01%) and 19.74% (-0.01%), respectively,
reporting for on Monday, May 13 2024 from Lagos, Nigeria
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