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FG to raise N95bn in bonds

2013-06-12T145610Z_1_AJOE95B15HS00_RTROPTP_2_OZABS-BOND-NAIRA-20130612

The federal government plans to raise N95 billion ($476 million) by selling sovereign bonds with maturities ranging between 5 and 20 years on March 11, the Debt Management Office (DMO) said on Wednesday.

The DMO will raise 35 billion naira in 5-year bonds and 35 billion naira each in the 10 and 20-year paper, using the Dutch auction system.

All the bonds are a re-openings of previous issues and the result of the auction is expected to be published on March 12.