Nigeria issued 64.10 billion naira ($394 million)worth of 10-year sovereign bonds with different maturity dates on Wednesday at yields lower than its previous auction, the Debt Management Office said yesterday.
The debt office said it auctioned 34.10 billion naira in the 10-year bond due to mature in 2018 and 30 billion naira worth of the 10-year instrument maturing in 2019 at its last monthly debt auction of the year. All are re-openings of previous issues.
The paper with term to maturity of six years and five months and due in 2018 was sold at a 15.93 percent marginal rate compared to 16.50 percent at the previous auction, while the bond with a term to maturity of seven years and ten months due in 2019 was issued at a 15 percent marginal rate against 16.50 percent at the previous auction in November.
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