(Reuters/NAN)
Nigeria plans to sell N95 billion (301.8 million dollars) of bonds on Nov. 16,
the Debt Management Office (DMO) said on Friday.
The office said it
would sell N35 billion of a bond maturing in 2036, and N25 billion of paper
maturing in 2026.
Thirty five billion
dollars of debt is maturing in 2021 using the Dutch Auction System.
Results of the
auction are expected to be released on the following day. All the bonds
on
offer are reopening of previous issues.
Africa’s biggest
economy issues sovereign bonds monthly to support the local bond market, create
a benchmark for corporate issuance and fund its budget deficit.
Nigeria plans to
borrow about 900 billion naira locally to finance part of the 2.2 trillion
naira deficit in its 2016 budget.
It is also seeking
advisers and bookrunners to manage a planned one billion dollars Eurobond sale
this year. (Reuters/NAN)
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