FG to issue $353 domestic bonds next week

The Federal Governement plans to raise N70 billion ($353 million) worth of Treasury bonds with maturities ranging between five-year and 20-year at an auction next week, the Debt Management Office (DMO) said on Wednesday.

The DMO said it will issue a five-year bond to raise 40 billion naira, a 10-year paper to raise 15 billion naira and 20-year debt note to raise 25 billion naira on June 17, using the Dutch Auction System.

The papers are re-openings of previous issues.