Nigeria to Raise Up to N350bn Naira in Bonds in Q3

Nigeria will raise between N260 billion and N350 billion ($1.60 billion-$2.15 billion) in the third quarter by selling bonds with maturities ranging from three years to 20 years, the Debt Management Office (DMO) said on Friday.
The DMO said a new 20-year bond will be sold in July while all other issuance will be reopenings of oustanding bonds.
A breakdown of planned issuance is shown in the table below.
Date of Issue Tenor Amount
(bln naira)
July 16, 2014 3-year 10-20
10-year 45-55
20-year 30-40
August 13, 2014 3-year 10-20
10-year 45-55
20-year 30-40
September 17, 2014 3-year 10-20
10-year 45-55
20-year 35-45
Total 260-350
($1 = 162.84 Naira) (Reporting by Oludare Mayowa; Editing by Chijioke Ohuocha and Catherine Evans)
Source: Reuters

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