Nigeria raises N92bn in Treasury bonds at higher yields

Nigeria sold bonds worth a total of 91.85 billion naira ($462 million) at higher yields on all tenors at an auction on Wednesday, the Debt Management Office said on Thursday.

The debt office said in a statement that it received a total of 130.85 billion naira in bids from investors compared with 183.34 billion naira at the last auction in May.

The debt office sold 40 billion naira worth of the 5-year paper at a yield of 14.42 percent versus 13.84 percent at the last auction.

The debt office also said it had sold 15.22 billion naira worth of the 10-year bond at a yield of 13.50 percent against 13.48 percent at the last auction.

An additional 11.63 billion of same tenor was sold on non-competitive bids, the debt office said. – is this line correct? Yes.

The debt office sold 25 billion naira worth of the 20-year debt at a 14.24 percent yield compared with 13.88 percent last month.

REUTERS