Nigeria raises N50B 2020, 2024 bond at higher yields

Pulse Staff 09:54 - 10 December 2015

Nigeria raises 50 bln naira 2020, 2024 bond at higher yields

The debt office issued 30 billion naira in the 2020 debt at 10.95 percent, up from 10.24 percent at the previous auction in November. The same tenor bond closed at 10.80 percent at the secondary market on Wednesday.

Nigeria sold 50 billion naira ($251.93 million) worth of naira-denominated bonds maturing in 2020 and 2024 at an auction on Wednesday, at higher yields thanks its previous auction, the Debt Management Office said on Thursday.

A total of 20 billion of the benchmark bond maturing in 2024 was issued at 11 percent compared with 10.01 percent same tenor debt attracted at the November auction. The 2024 paper closed at 10.99 percent at the secondary market on Wednesday.

($1 = 198 naira)