Nigerian govt to raise N120bn as December bond auction opens

The Federal Government is poised to raise N120 billion through the auction of two Federal Government Bonds.

According to the Debt Management Office (DMO), the bond offering comprises a 19.30 percent April 2029 bond, a five-year reopening valued at N60 billion, and an 18.50 percent February 2031 bond, a seven-year reopening also valued at N60 billion.

Both instruments are re-openings of previously issued bonds, allowing investors to participate at current market yields.

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