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Nigeria to issue N95b bonds on December 14

By NAN
06 December 2016   |   6:24 pm
Nigeria plans to sell N95 billion (302 million dollars) worth of bonds on Dec. 14, its last debt auction for the year, the Debt Management Office (DMO) said on Tuesday.
Director General of Debt Management Office (DMO), Dr. Abraham Nwankwo

Director General of Debt Management Office (DMO), Dr. Abraham Nwankwo

Nigeria plans to sell N95 billion (302 million dollars) worth of bonds on Dec. 14, its last debt auction for the year, the Debt Management Office (DMO) said on Tuesday.

The office said it would sell N35 billion of a bond maturing in 2036; N25 billion of paper maturing in 2026 and N35 billion of debt maturing in 2021, using the Dutch auction system.

Results of the auction are expected to be released on the following day.

All the bonds on offer are reopenings of previous issues.

Africa’s biggest economy issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit. (one dollar= N315.00)

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