DMO to raise N50bn bond


Debt Management Office (DMO) said its planning  to raise N50 billion bonds maturing in February 2020 and March 2024 at its last debt auction of the year on December 9, 2015.

DMO said it would sell N30 billion of the 2020 debt and N20 billion of the benchmark 2024 paper.

The debt office explained that the  bonds are a reopening of previously issued paper. “Results of the auction will be published the following day.

“The 2020 bonds closed with a yield of 11.73 per cent on Wednesday and the 2024 at 11.85 per cent, with dealers predicting yields would fall at the auction next week.,” DMO said in a statement.

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