Nigeria, Feb. 19 -- The Debt Management Office (DMO) on Wednesday said its auction of the February 2020 FGN Bond was significantly over-subscribed by about 284.43 per cent.

The debt management agency said it offered about N140 billion across three instruments to investors at the auction, namely the 5-Year tenor valued at about N45 billion for a 10-Year tenor: 10 and 30-Year tenor of about N50.00 billion.

The DMO said subscriptions received through competitive bids for the three instruments was about N398.2 billion, or a total subscription level of 284.43 per cent.

Also, non-competitive bids for about N60 billion was also received, making the total subscriptions from competitive and non-competitive bids to about N458.2 billion.

A break...