Nigeria Sells ₦120b in Bonds with Mixed Yields –Debt Office

Nigeria sold 120 billion naira worth of local currency-denominated bonds with mixed yields compared with the returns from previous issues last month, results released by the Debt Management Office (DMO) showed on Friday.

The debt office sold 55 billion naira of 2036 paper at 14.98 percent, the same yield as on similar debt issued at the last auction on June 15.

It sold 35 billion naira worth of 2026 debt at 14.90 percent, 50 basis points higher than the yield at the previous auction. The debt office also sold 30 billion naira at par in the 2021 paper at 14.50 percent.

While the debt office sold 15 billion naira above what it initially offered on the 2036 maturing debt, it sold 5 billion naira and 10 billion naira less on the 2026 and 2021 paper each respectively.