The Debt Management Office, DMO, sold N120 billion worth of local currency-denominated bonds with mixed yields compared with the returns from previous issues in July.
The payment for the debt sale was due on Friday, July 15 after most of the nation’s banks scrambled for liquidity to settle their bond purchases.
Although plans by the Debt Management Office, DMO, to raise N120 billion ($425 million) in bond maturing 2021, 2026 and 2036 had been stalled on Wednesday, July 13, by system glitch at the Central Bank of Nigeria, the auction still took place.
The DMO, had in a public notice on Monday, July 11, said it will raise N40 billion at par in 2021 bond, while also raising N40 billion apiece in the 2026 and 2036 maturing bonds at the auction.
