FG raises $610.1million in yield, bonds


By Alex C

The Debt Management Office (DMO) sold N100 billion ($610.1 million) worth of bonds at higher yields for three- and 10-year paper while it was able to offer lower yields on 20-year benchmark debt.

The DMO, on Thursday, said it sold N15 billion of three-year debt at 11.49 percent, 37 basis points higher than 11.12 percent the paper fetched in August. It also sold N50 billion of 10-year debt at 12.23 percent against 12.22 percent previously.

The debt office sold N35 billion worth of 20-year paper at 12.29 percent, lower than 12.38 percent at the previous auction. All the debt notes were re-openings of previous issues, while total demand was up marginally to 175.99 billion naira compared with 174.01 billion naira at the previous sale.

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