Federal government plans to sell 95 billion naira ($302 million) worth of bonds on Dec. 14, which will be its last debt auction for the year 2016.
The Debt Management Office, DMO, revealed this on Tuesday, December 6, stating that it would sell 35 billion naira of a bond maturing in 2036, 25 billion naira of paper maturing in 2026 and 35 billion of debt maturing in 2021, using the Dutch auction system.
Results of the auction are expected to be released on the following day, December 15. All the bonds on offer are reopenings of previous issues.
Africa’s biggest economy issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit.
