Nigeria Just Sold N100b Bonds at a Higher Yield

1. Reuters reports Nigeria sold 100 billion naira ($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.

2. The Debt Management Office on Thursday sold 15 billion naira of 3 year debt at 11.49 percent, 37 basis points higher than 11.12 percent the paper fetched in August.

3. It also sold 50 billion naira of 10-year debt at 12.23 percent against 12.22 percent previously.

4. The debt office sold 35 billion naira worth of 20-year paper at 12.29 percent, lower than 12.38 percent at the previous auction.

Source: Reuters