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FG issues N70bn bonds amid strong demand

By on May 17, 2014

The Federal Government has issued a three-year and a 10-year bond to domestic pension and offshore funds, raising N70bn ($431m) at yields lower than at its previous auction in April, the Debt Management Office said on Thursday.

The DMO sold the three-year bond at 11.09 per cent to raise N35bn, 2.05 percentage points lower than the same tenor fetched at an auction in April.

It also sold N35bn of the 10-year paper at 12.54 per cent, compared with 13.10 per cent last month.

According to Reuters, dealers said demand was strong, at N141.04bn for the shorter bond and N97.99bn for the longer one.

 

 

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