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Published On: Fri, Jul 18th, 2014

FG raises 100bn in bonds

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By Etuka Sunday with agency report

The Debt Management Office (DMO) said it sold 100 billion naira ($618 million) worth of bonds with maturities ranging between three and 20 years at auction yesterday at yields lower than previously.

The debt office sold 15 billion naira of three-year paper at 11 percent, lower than 11.35 percent at its June auction, and 50 billion aira of 10-year debt at 12.19 percent compared with 12.24 percent. A total of 35 billion naira of the 20-year debt note at 12.14 percent.

The 3-and 10-year were reopenings of previous issue, while the 20-year paper was a new issue.

Demand for the bonds was 263.91 billion naira.


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