Nigeria sells N90b in bonds
Nigeria sold N90 billion ($572.70 million) worth of debt paper maturing in 2014, 2017 and 2022 at its regular auction on Wednesday, with mixed returns on the bonds, the Debt Management Office (DMO), said yesterday.
DMO, said it sold N20 billion in the bond due to mature in March 2014, and N35 billion each, in paper due to mature in April, 2017 and 2022 respectively.
The 2017 bond, which was a fresh issue, has a coupon of 15.10 per cent, while the 2017 and 2022 paper pay a rate of 14.94 and 15.47 per cent respectively.
Two of the instruments are re-opening of previous issues, while the 2017 bond was a fresh offer. The 2014 note had attracted a coupon of 15.50 per cent at the last time it was issued in October 2011, the 2022 one attracted 15.41 per cent at the previous auction.
“The original coupon rates of 10.50 per cent and 16.39 per cent for the March, 2014 and January, 2022 respectively will be maintained, while the coupon rate for the April 2017 is set at 15.10 per cent,” the DMO stated.
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