Nigeria sells 90 B naira in 3-, 20-year bonds: Debt Office
14 February 2014, 08:47
Nairobi - Nigeria issued 90 billion naira worth of three and 20-year bonds, at a higher yield than last month for the shorter-term note, the Debt Management Office (DMO) said on Thursday.
The debt office sold 45 billion naira each in the notes, maturing in August 2016 and July 3020 respectively, at its second auction of the year.
The 3-year debt attracted a yield of 13.49 percent, higher than 13.10 percent at the last auction, while the 20-year paper was flat at 13.60 percent. The notes are re-openings of previous issues.
Demand was weak as offshore investors were gradually exiting the bond market, leaving domestic pension fund managers to pick up the slack.