Nigeria Sells 111bn Naira in 2019, 2022 Bonds

Nigeria raised 111 billion naira ($703.73 million) at a bond auction on Wednesday, its second this year, with yields on the 2019 bonds marginally higher than at its previous auction, while yielding fell on its 2012 bonds, the Debt Management Office said on Thursday.

The debt office said it auctioned 35 billion naira each in the 10-year bonds due to mature in 2019 and 2022, while it issued an additional 41 billion naira in 2022 maturity paper in a non-competitive sale.

The 2019 bonds were sold at a marginal rate of 16.16 per cent, higher than the 16 per cent they yielded at the previous auction while the 2022 instruments were issued at 15.89 per cent compared with 16.39 per cent at the January auction, the debt office said.