FG raises N100 billion in bonds

The  Debt Management Office, on Thursday, said it  sold N100 billion ($618 million) worth of bonds with maturities ranging between three and 20 years at auction on Wednesday at yields lower than previously.

The debt office sold N15 billion of three-year paper at 11 percent, lower than 11.35 percent at its June auction, and 50 billion naira of 10-year debt at 12.19 percent compared with 12.24 percent. A total of 35 billion naira of the 20-year debt note at 12.14 percent.

The 3-and 10-year were reopenings of previous issue, while the 20-year paper was a new issue.

Demand for the bonds was 263.91 billion naira.