Nigeria sells N95b bonds

News Express |11th Nov 2016 | 2,757

Nigeria plans to sell N95 billion (301.8 million dollars) of bonds on Nov. 16, the Debt Management Office (DMO) said on Friday.

The office said it would sell N35 billion of a bond maturing in 2036, and N25 billion of paper maturing in 2026.

Thirty five billion dollars of debt is 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 reopening of previous issues.

Africa’s biggest economy issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit.

Nigeria plans to borrow about 900 billion naira locally to finance part of the 2.2 trillion naira deficit in its 2016 budget.

It is also seeking advisers and bookrunners to manage a planned one billion dollars Eurobond sale this year. (NAN)

•Photo shows DMO DG, Dr. Abraham Nwankwo.

Nigeria sells N95b bonds

Comments

Post Comment

You may also like...

Four expatriates abducted in Kogi, soldier killed

Police arrest 2 suspects over alleged armed robbery, murder

Katsina Judiciary appoints pioneer female Chief Registrar

Deaths from fire on building housing offices in Lagos avoidable, says HURIWA

TCN gives reason for power outage in parts of Kaduna

Nigeria's Mining Sector Crisis: MCO shakeup exposes deeper systemic rot

HID Awolowo — Ten years after, the matriarch who defined a generation

Why real estate is still the safest investment in Nigeria

Kaduna: For President Tinubu, a resounding political validation

Derby hero Ekitike gives Slot dream Liverpool conundrum

Man Utd claim priceless win after early Sanchez red card

Survivors recount tale of horror in Nasarawa kidnappers’ den

Suspected Lakurawa Terrorists Kill Two In Sokoto Over Vigilante Involvement

Cross River uncovers 800 ghost workers on LG payroll

Wole Soyinka Backs Campaign To Honour Igbo Ancestors 223 Years After Landing Tragedy

Fresh moves to secure IPOB leader, Nnamdi Kanu’s release

Soludo hosts Ebuka Obi at Anambra govt house

Adebayo: Celebrated Economic Stability Under Tinubu Is A Ruse

We have learned great lessons from the fire incident – Afriland

Victor Osimhen sidelined until end of September

GOCOP Accredited Member

Quick Links

Categories

Contact

Find us on