DMO To Raise N120 billion In 2021, 2026, 2036 Bond

Nigeria plans to raise N120 billion ($424.78 million) in local currency denominated bonds with maturities ranging between 5-year and 20-year on July 13, the Debt Management Office (DMO) said yesterday.
The debt office said in a notice that it will raise N40 billion at par in 2021 bond, while also raising N40 billion apiece in the 2026 and 2036 maturing bonds at the auction.
The 2026 and 2036 debt are a reopening of the previously issued paper, the debt office said.
Nigeria, Africa’s biggest economy, said it would borrow around N900 billion from the local debt market to finance a portion of the estimated N2.2 trillion deficit in this year’s budget.

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