Nigeria sells 80 bln naira worth of 2020, 2034 debt at mixed yields

Nigeria's sold a total of 80.20 billion naira  in bonds maturing in Feb. 2020 and Aug. 2034 at an auction on Wednesday with mixed yields, Debt management Office (DMO) said on Thursday.

Okonkwo, DMO Chief

Total bids stood at 153.48 billion naira, more than the 119.53 billion naira at the previous auction.
A total of 40 billion naira of the Feb 2020 bond was sold at the auction, while additional 10.20 billion naira of same tenor paper was allotted on non-competitive basis.

The 2020 paper fetched a yield of 15.38 percent, compared with 15.28 percent at the last auction.
The debt office sold 30 billion naira in the Aug 2034 debt at 15.19 percent versus the 15.29 percent the paper fetched at the last auction.
The 2020 debt closed at 15.41 percent at the secondary market on Wednesday, while the 2034 paper closed at 15.19 percent.