Federal government plans to raise between N305 billion and N395 billion ($1.08 bln -$1.40bn) in local currency-denominated bonds with maturities ranging from five to 20 years in the third quarter of the year.
The Debt Management Office, DMO, which stated this Wednesday, said it would auction between N105 and N135 billion worth of bonds maturing in 2021, 2026 and 2036 in July, 95 and N125 billion worth of same debt in August and 105 and N135 billion worth of the paper in September.
In its latest debt issuance calendar, the DMO said the 2021 paper was a new issue, while the 2026 and 2036 maturing paper re-opened previously issued debt.
Nigeria issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit.
The federal government has said it will borrow about N900 billion locally to finance part of the N2.2 trillion deficits in its 2016 budget.

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