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Nigeria Raises N215b at First 2017 Bond Auction

By Dipo Olowookere

About N214.95 billion worth of bonds has been raised by the Federal Government at its first auction in the year 2017.

According to the Debt Management Office (DMO), which carried out the exercise on behalf of the government, it raised a N105.10 billion worth of 20-year bonds that would mature in 2036 at 16.99 percent.

Making this disclosure on Thursday, the DMO noted that the coupon rate for the 20-year bonds was higher than the 16.43 percent offered in the same category in December 2016.

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It said further that the sum of N74.90 billion was raised on the 10-year bond at 16.99 percent compared with the 16.24 percent it offered at the last sale.

However, it revealed that the 10-year bond category would mature in 2026.

According to the DMO, it sold N34.95 billion worth of the 2021 bond category at 16.89 percent higher than the N15.99 percent recorded in December 2016.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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