FG to raise N80bn in 2020, 2024 bonds

The Federal Government plans to issue N80 billion ($400 million) worth of local currency denominated bond with maturities range between 5-year and 10-year on Oct 14, the Debt Management Office (DMO) said on Wednesday.

The debt office said it will issue 40 billion naira each in the debt maturing in 2020 and 2024 respectively at yields to be determined through Dutch Auction System (DAS).

All the bonds are reopenings of previous issues and results for the auction are expected the following day.