Nigeria raises 100bn naira in bonds at higher yields

LAGOS: Nigeria sold 100 billion naira ($616.90 million) worth of bonds with maturities ranging between three and 20 years at auction on Wednesday, fetching higher yields than previously, the Debt Management Office said on Thursday.

The debt office said 15 billion naira of 3-year debt notes were sold, fetching 11.12 percent, higher than the 11 percent they got at the July auction, while 50 billion naira of 10-year debt was sold at 12.22 percent against 12.19 percent previously.

A total of 35 billion naira of the 20-year note was sold at 12.38 percent, compared with 12.14 percent at last month's auction.

All the debt notes were reopening of previous issues, while total demand fell to 174.01 billion naira against 263.91 billion naira last month.