• Saturday, March 02, 2024
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FG raises N100 billion in bonds, yields mixed

The Debt Management Office (DMO) sold N100 billion ($610.1 million) worth of bonds at higher yields for three- and 10-year paper while it was able to offer lower yields on 20-year benchmark debt.

The DMO, on Thursday, said it sold N15 billion of three-year debt at 11.49 percent, 37 basis points higher than 11.12 percent the paper fetched in August.

It also sold N50 billion of 10-year debt at 12.23 percent against 12.22 percent previously.

The debt office sold N35 billion worth of 20-year paper at 12.29 percent, lower than 12.38 percent at the previous auction.

All the debt notes were reopenings of previous issues, while total demand was up marginally to 175.99 billion naira compared with 174.01 billion naira at the previous sale.