NIGERIA has sold bonds worth a total of N60 billion ($302 million) at lower yields on all tenors at an auction on Wednesday, the Debt Management Office said on Thursday.
The debt office said in a statement that investors submitted total bids of N183.34 billion compared with N184.72 billion at the last auction.
The lower yields reflected the trend in the secondary market, which remain at below 14 percent following a sharp rise immediately after Nigeria’s peaceful elections in March.
The 5-year, 10-year and 20-year tenors each received a total of N20 billion, the debt office said.
The 5-year paper was sold at 13.84 percent, lower than 14.44 percent the debt attracted at the last month’s auction.
The 10-year bond fetched a yield of 13.48 percent against 14.22 percent last month, while the 20-year debt attracted a yield of 13.88 percent compared with 14.45 percent last month


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