The Debt Management Office said it has opened the September savings bond offer to investors.
The DMO said in a circular on Monday that it is offering the Federal Government’s two-year and three-year savings bonds.
According to the circular, titled ‘FG savings bond offer for subscription September 2021.
The DMO said the two-year FGN savings bond will be due for redemption on September 15, 2023, at 7.915 per cent per annum, while the three-year offer will be due on September 15, 2024, at 8.915 per cent per annum.
The offer opened on Monday, with a closing date of September 10. While the settlement date is September 15, the bonds have coupon payment dates of December 15, March 15, June 15, September 15.
“The units of sale are N1,000 per unit subject to a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription ofN50,000,000.
The interest rate is payable quarterly with bullet repayment expected on the maturity date. The bonds qualify as securities in which trustees can invest under the Trustee Investment Act, and as a liquid asset for liquidity ratio calculation for banks,” the Debt office said.