FG is­sues N50bn bond at lower yields

Daily Trust - - BUSINESS / NEWS -

Nigeria has is­sued 50 bil­lion naira ($309.31 mil­lion) in 3-year and 10-year bonds, with strong de­mand chas­ing yields lower than what the govern­ment paid at its pre­vi­ous auc­tion last month, the Debt Man­age­ment Of­fice said yes­ter­day.

The DMO sold 25 bil­lion naira in the 3-year paper, ma­tur­ing in Au­gust 2016, at a yield of 13.14 per­cent, down from last month’s 14.10 per­cent, while the 10-year bond, ma­tur­ing in March 2024, fetched 13.10 per­cent, down from 14.20 per­cent. Sub­scrip­tion for the bonds stood at 183.07 bil­lion naira, lower than 185.56 bil­lion naira at the pre­vi­ous auc­tion. (Reuters )

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