The Debt Management Office (DMO), said it would raise N80 billion worth of bonds in two categories on Oct.14.

According to the DMO in its ‘Bond Circular’ issued on Tuesday, the two categories of bonds will include a 10-year and five-year bonds.

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The DMO said that it would issue N40 billion worth of the 10-year bonds and N40 billion in five-year bonds respectively.

It said the two categories of bonds would mature in March 2024 and February 2020.

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The DMO said that the two categories of bonds opened with different coupon rates.

The 10-year and five-year bonds would have coupon rates of 14.20 per cent and 15.54 per cent respectively.

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It said that while the bonds would be auctioned on Oct. 14, the settlement date would be Oct. 16.

The DMO said that all the bonds had been re-opened.