Nigeria's debt office plans to issue 100 billion naira worth of sovereign bond next week Wednesday in furtherance of measures to fund this year's budget deficit.
The Debt Management Office (DMO) will issue 40 billion naira each in 7-year and 5-year bond, while it will sell 20 billion naira worth in 10-year paper
All the debt notes are reopening of the previously issued paper y the debt office.
Nigeria local debt notes are backed by the full faith and credit of the Nigerian Government, with interest payable semi-annually to bondholders, while bullet repayment will be made on maturity date.
Nigeria issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit.
Nigeria issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit.
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