Nigeria to sell 60 bln naira in bonds on May 13




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May 5 – Nigeria plans to sell 60 billion naira ($300 million) of 5, 10 and 20-year sovereign bonds on May 13, its fifth debt auction of the year, the Debt Management Office () said on .

The DMO said it would sell 20 billion naira each of the papers, due to mature in 2020, 2024 and 2034 respectively.

The papers are re-openings of previous issues and the results of the auction will be published the following day.

Nigeria, sub-Saharan biggest economy, issues sovereign bonds monthly to the local bond market, create a benchmark for corporate issuance and fund its budget deficit. ($1 = 198.95 naira) (Reporting by Oludare Mayowa; Editing by Joe Brock)

 

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*(Reuters)*