The Federal Government is targeting to raise between N630bn to N720bn from the bond market in the first quarter of 2022.

The Debt Management Office (DMO) disclosed this on Wednesday in the FGN bond issuance calendar for the third quarterly of 2022.

The calendar shows that the DMO will re-open nine previously issued FGN Bonds between July and September.

According to the calendar, on July 18, the DMO will re-open a 13 per cent, March 2025 FGN Bond valued at between N70billion to N80billion. It has a maturity date of two years, eight months, with original 10-year tenor.

Also on July 18, the DMO will re-open a 12.5 per cent, April 2032 FGN Bond valued at between N70billion to N80billion. It has nine years, nine months term-of-maturity; with 10-year original tenor.

The office will, again, re-open a 13 per cent, Jan. 2042 FGN Bond valued at between N70billion to N80billion on thesame date. It has 19 years, six months term-of-maturity, and an original tenor of 20-year.

On Aug. 15, the DMO will re-open the 13.53 per cent, March 2025 FGN Bond, valued at between N70billion to N80billion, with two years, seven months as term-of-maturity. It has an original tenor of 10-year.

On the same date, it will re-open the 12.50 per cent, April 2032 FGN Bond, valued at between N70billion to N80billion; with term-of-maturity of nine years, eight months. It has a 10-year original tenor.

Again, on Aug. 15, it will re-open the 13 per cent, 2042 FGN Bond, valued at between N70billion to N80billion; with 19 years, five months as term-of-maturity. It has a 20-year original tenor.

The calendar also shows that, on Sept. 19, the DMO will again re-open the 13.53 percent, March 2025 FGN Bond, valued at between N70billion to N80billion. It has two years, six months term-of-maturity and 10-year original tenor.

Again, on Sept 19, the DMO will re-open 12.50, April 2032 FGN Bond valued at between N70billion and N80billion, with nine years, seven months as term-of-maturity. It has a 10-year original tenor ( length of time ).

On the same date, the office will, again, re-open the Jan. 2042 FGN Bond valued at between N70billion to N80billion; with 19 years, four months as term-of-maturity. It has original tenor of 20-year.

Re-opening a Bond issue refers to issuance of additional amounts of a previously issued Bond.

However,  while re-opened Bonds have the same maturity date and interest rate as the original bonds,  they are sold on different dates and usually at a different price.

The DMO, however, said that the calendar was provisional and could be subject to change at short notice.