So which of d banks allow individual bid? Pls I need to know

Following closely to knw the rates as I planned buying from secondary market.

sodiamond:
Place what do I do now. I don't know if it's the same with diamond bank as I intend to open account with them because of this

Diamond doesn't do primary, unless your principal is high (above N5m) is but even at that they'll try their best to convince you to invest in their packages: HIDA, etc.

If you go through previous posts, it appears most people that got the primary bid used first bank or gtb.

plendil:


Diamond doesn't do primary, unless your principal is high (above N5m) is but even at that they'll try their best to convince you to invest in their packages: HIDA, etc.

If you go through previous posts, it appears most people that got the primary bid used first bank or gtb.

This is false news. I use Diamond bank and i have done below 1M several times. I have never done up to 5M with Diamond bank and i have always been successful in the primary market with them, although i go with prevailing rates

unite4real:


This is false news. I use Diamond bank and i have done below 1M several times. I have never done up to 5M with Diamond bank and i have always been successful in the primary market with them, although i go with prevailing rates[/b]

Well, perhaps it depends on the branch. I bank with them as well and thats what I was told by the agent that attended to me. Both times when I bought, it was through the secondary market.

plendil:


Well, perhaps it depends on the branch. I bank with them as well and thats what I was told by the agent that attended to me. Both times when I bought, it was through the secondary market.

fact is a lot of bankers don't know much about Treasury Bills and Bonds....speak to people working in Treasury or the Investment banks.

that is why I still prefer to use the Investment Houses for most of my transactions, afterall these Tbills and Bonds are kept with Custodians so no risk of the Investment house going bust.

These bankers can really frustrate ur life! all they know is meeting their targets with savings account or current account or fixed deposit

plendil:


Well, perhaps it depends on the branch. I bank with them as well and thats what I was told by the agent that attended to me. Both times when I bought, it was through the secondary market.

I think they like playing games. they tried talking to me initially to patronize their own portfolio but i threaten to take my money to another bank. They had no option than to oblige.

Guys,

Is there a separate thread for bonds?
I think it deserves its own thread if none exists.

House, what do you think? Cc @feelamong,

Ojix85:
Guys,

Is there a separate thread for bonds?
I think it deserves its own thread if none exists.

House, what do you think? Cc @feelamong,

yes it should

Ojix85:
Guys,

Is there a separate thread for bonds?
I think it deserves its own thread if none exists.

House, what do you think? Cc @feelamong,

I think there is already a separate thread for bonds....

Pls those for bond should go to bond thread. Cheers!

feb 3rd auction result

91 days ---4.95%

182 days -----7.97%

364 days ----9.49%


its hinging up slowly and steadily

princeuk21:
Pls those for bond should go to bond thread. Cheers!

Can you help with the link?

feelamong:
feb 3rd auction result
91 days ---4.95%
182 days -----7.97%
364 days ----9.49%
its hinging up slowly and steadily

Great news.

Ojix85:


Can you help with the link?



Great news.

there are loads of links.....

https://www.nairaland.com/2754587/information-federal-govt-bond-2015#40291536

https://www.nairaland.com/1472894/guide-investing-fgn-bonds#18717031

https://www.nairaland.com/1236944/how-invest-fgn-bonds#17735189

https://www.nairaland.com/2434824/invest-fg-bonds#35603525

https://www.nairaland.com/2236356/investing-federal-government-bonds-nigeria#33817732

feelamong:
feb 3rd auction result

91 days ---4.95%

182 days -----7.97%

364 days ----9.49%


its hinging up slowly and steadily

Please where do you get ur results from??.. I thought the DMO site should have the result first, but yesterday's auction is still not updated on their website..

9galen217:


Please where do you get ur results from??.. I thought the DMO site should have the result first, but yesterday's auction is still not updated on their website..

I usually get the updates from my bankers....GT bank and Fidelity Bank

Here is yesterday's results. It is coming up gradually

feelamong:
feb 3rd auction result
91 days ---4.95%
182 days -----7.97%
364 days ----9.49%

its hinging up slowly and steadily

yesss ......... ... .
Coming up
still waiting for 12% (364 days)

feelamong:


fact is a lot of bankers don't know much about Treasury Bills and Bonds....speak to people working in Treasury or the Investment banks.

that is why I still prefer to use the Investment Houses for most of my transactions, afterall these Tbills and Bonds are kept with Custodians so no risk of the Investment house going bust.

These bankers can really frustrate ur life! all they know is meeting their targets with savings account or current account or fixed deposit

please help with names of some reputable investment houses that deal on TBills, bonds and the likes

feelamong:



there are loads of links.....

https://www.nairaland.com/2754587/information-federal-govt-bond-2015#40291536

https://www.nairaland.com/1472894/guide-investing-fgn-bonds#18717031

https://www.nairaland.com/1236944/how-invest-fgn-bonds#17735189

https://www.nairaland.com/2434824/invest-fg-bonds#35603525

https://www.nairaland.com/2236356/investing-federal-government-bonds-nigeria#33817732

Thanks a lot.

@ feelamong , pls I need assistance on this; please help with names of some reputable investment houses that deal on TBills, bonds and the likes

Checking up here

Daddi:
@ feelamong , pls I need assistance on this;
please help with names of some reputable
investment houses that deal on TBills, bonds and
the likes

just seek out the major stock broking firms, the Chapel hills, The Investment Ones, The UBA capitals....

I used Fidelity Securities in the past...

feelamong:


just seek out the major stock broking firms, the Chapel hills, The Investment Ones, The UBA capitals....

I used Fidelity Securities in the past...

thanks bro, will do that

@feelamong, others

What other costs do you bear on purchase of FGN bonds apart from the total consideration? Do your banks or investment houses charge you custody or transaction fees similar to Treasury bill purchase?

battleaxe:
@feelamong, others

What other costs do you bear on purchase of FGN bonds apart from the total consideration? Do your banks or investment houses charge you custody or transaction fees similar to Treasury bill purchase?

yes you incur custody fees only

Sorry to digress a bit....

I assisted a Nairalander to buy N100M worth of FGN 2020 (15.54%) Bonds at yesterday Bond Auction.....

This is the summary of what the bank sent to me this morning...

SETTLEMENT  DATE -12-Feb-16

COUNTTERPARTY -Mr xxxxxxx

BOND VALUE - 100,000,000.00

CLEAN PRICE - 110.3666585

MATURITY DATE - 13-Feb-2020

COUPON RATE - 15.54%

YIELD - 12.19%

ACCRUED INTEREST- 7,727,771.74

DIRTY PRICE -  118.09

TOTAL DUE  - 118,094,430.24

I thought bids of 13% will scale through but

IHelp:
I thought bids of 13% will scale through but

sorry bro! better luck next time..

and always try to speak with bond traders before you bid

feelamong:
Sorry to digress a bit....

I assisted a Nairalander to buy N100M worth of FGN 2020 (15.54%) Bonds at yesterday Bond Auction.....

This is the summary of what the bank sent to me this morning...

SETTLEMENT  DATE -12-Feb-16

COUNTTERPARTY -Mr xxxxxxx

BOND VALUE - 100,000,000.00

CLEAN PRICE - 110.3666585

MATURITY DATE - 13-Feb-2020

COUPON RATE - 15.54%

YIELD - 12.19%

ACCRUED INTEREST- 7,727,771.74

DIRTY PRICE -  118.09

TOTAL DUE  - 118,094,430.24

                               

how come you are paying accrued interest so high when the next coupon paymnt is February 13, 2016. Will you be enjoying the next coupon of february 13, 2016? if not where is the accrued interest coming from?

vacanci:


how come you are paying accrued interest so high when the next coupon paymnt is February 13, 2016. Will you be enjoying the next coupon of february 13, 2016? if not where is the accrued interest coming from?

you have to pay the accrued interest back to the former holder of the bond....who sold to you on the 12th of feb (since he has held from the date of last coupon payment till the 12th)

Yes the next coupon payment is Feb 13th and on that date you will be paid the last 6 months coupon.