Nigeria to issue N95bn bonds on Dec. 14 – DMO

Nigeria plans to sell N95 billion ($302 million) worth of bonds on Dec. 14, its last debt auction for the year, the Debt Management Office (DMO) said on Tuesday.

The office said it would sell N35 billion of a bond maturing in 2036, N25 billion of paper maturing in 2026 and N35 billion of debt maturing in 2021, using the Dutch auction system.

Results of the auction are expected to be released on the following day. All the bonds on offer are reopenings of previous issues.

Sovereign bonds are issued monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit.