Nigeria To Sell N80 Billion Of Bonds On January 20

Nigeria said on Monday it will sell N80 billion worth of bonds denominated in the local currency at an auction on January 20, its first debt auction of the year, the Debt Management Office (DMO) said.
The debt office said it will issue N40 billion each of bonds maturing in 2020 and 2026, using the Dutch auction system.
The 2020 debt is a reopening of a previously issued bond. The 2026 debt is a fresh issue. Results of the auction are expected the next day.
Nigeria has proposed a plan to issue N260 billion to N390 billion in 5-, 10- and 20-year naira bonds in the first quarter of the year. 
Nigeria said it will borrow about N900 billion locally to finance part of the N2.2 trillion deficit in its 2016 budget.

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