The Debt Management Office (DMO) on Monday said it would raise N120 billion worth of bonds on July 13.

The office said in its July “Bond Circular” posted on its website that the bonds had maturity dates of five, 10 and 20 years.

The office said that N40 billion worth of bond each would be sold in the three categories.

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It stated that each of the categories would mature in July, 2021, January 2026 and March 2036.

The DMO added that the 10-year and 20-year categories had different coupon rate of 12.5 per cent and 12.4 per cent.

It said that the bonds to be auctioned on July 13 were all re-opening bonds and the settlement date would be July 15.