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CBN raises N70bn from Treasury Bills

By on July 12, 2014

The Central Bank of Nigeria on Thursday said it had sold N70.56bn at a sale of three-month and six-month Treasury Bills, with yields broadly unchanged from last month’s auction.

Subscription levels fell at the auction compared with last month’s sale, the CBN said.

Reuters reported that the central bank sold N20.16bn of three-month debt at 9.95 per cent, the same yield fetched at the previous auction.

The CBN also sold N50.4bn worth of six-month paper at 10.24 per cent, marginally lower than the 10.25 per cent the same tenor fetched last month.

Combined demand for both papers stood at N102.65bn, compared with N115.76bn for three-month and six-month debt offered at the last auction.

Meanwhile, the CBN is planning to raise N100bn in three local currency debt issues on July 16, including its new 20-year bond, according to the Debt Management Office.

The DMO said it would issue N35bn in the 20-year bond and issue N15bn in the three-year paper and N50bn in the 10-year paper.

The three-year and 10-year bonds are re-openings of previous issues.

 

 

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One Comment

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    July 12, 2014 at 12:48 pm

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