The Debt Management Office (DMO) has announced on Thursday that Nigeria has issued N120 billion ($600 million) worth of Naira-denominated bonds with maturities of 5-year and 10-year (maturing in 2020 and 2024).
Debt Management Office made this known, adding that the bonds were issued at an auction on Wednesday. The expected returns on the 5-year and 10-year bonds maturing in 2020 and 2024 respectively reflected the prevailing low yields at the secondary market.
The 2020 bond valued at N40 billion was issued at a lower rate of 13.11 percent compared to 15.95 percent in August; while the 2024 bond valued at N80 billion was issued at 13.87 percent compared to 16.84 percent in March.
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