Nigeria sells 60 bln naira bonds, yields dip across all tenors

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– Nigeria sold bonds worth a of 60 billion naira ($302 ) at lower yields on all tenors at an auction on Wednesday, Debt Office said on .

debt office said a investors submitted bids of 183.34 billion naira compared with 184.72 billion naira at last auction.

lower yields reflected trend secondary market, which remain at below 14 percent following a sharp rise immediately after Nigeria’s March.

The 5-year, 10-year and 20-year tenors each received a of 20 billion naira, 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.

($1 = 199 naira) (Reporting by Oludare Mayowa; Editing by James Macharia)

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