FG issues N50bn bond at lower yields
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 )