Federal Government Raises N219.58 Billion From Bond Market

Nigeria raised 219.58 billion naira in local currency denominated bonds with yields climbing across the board at an auction on Wednesday, the Debt Management Office (DMO) said on Thursday.

The DMO said it sold 40 billion naira of 2021 paper at 15.08 percent at Wednesday’s auction, compared with 14.50 percent at the previous auction last month.
It also sold 30 billion naira of 2026 debt at 15.28 percent, against 14.90 percent, and 40 billion naira of the 2036 debt at 15.53 percent against 14.98 percent.
The DMO sold 109.29 billion naira more than the initially advertised amount of 40 billion naira for the 2021 paper at the auction.
Total subscription at the auction stood at 210.29 billion naira, lower than the 231.76 billion naira demanded at the last sale.

Nigeria issues local bonds as part of measures to finance the government budget deficit and also help to manage liquidity in the banking system.

Federal Government Raises N219.58 Billion From Bond Market Federal Government Raises N219.58 Billion From Bond Market Reviewed by Link Naija on 13:03:00 Rating: 5

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