N60bn in bonds to be sold May 13

Nigeria is set to sell N60 billion worth of bonds on Wednesday, May 13, 2015, officials say.

This was revealed by the country’s Debt Management Office (DMO) on Tuesday, May 5, 2015.

The sale of 5, 10 and 20-year sovereign bonds will be the country’s fifth debt auction this year

According to Reuters, the DMO said it would sell 20 billion naira each of the papers, due to mature in 2020, 2024 and 2034 respectively.

Nigeria issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit.