DMO Raises N100bn in Bonds at Higher Yields

The Debt Management Office (DMO) of Nigeria sold N100 billion ($616.90 million) worth of bonds with maturities ranging between three and 20 years at auction on Wednesday, fetching higher yields than previously, the office said today.
The debt office said N15 billion of 3-year debt notes were sold, fetching 11.12 percent, higher than the 11 percent they got at the July auction, while N50 billion of 10-year debt was sold at 12.22 percent against 12.19 percent previously.
A total of N35 billion of the 20-year note was sold at 12.38 percent, compared with 12.14 percent at last month’s auction.
All the debt notes were reopening of previous issues, while total demand fell to N174.01 billion against N263.91 billion last month.

Leave a Reply

Your email address will not be published. Required fields are marked *