Nigeria to raise 50 bln naira in 2020, 2024 bonds

Nigeria plans to raise 50 billion naira in local currency denominated bonds maturing in February 2020 and March 2024 at its last debt auction of the year on Dec. 9, the Debt Management Office said on Wednesday.
The debt office said it would sell 30 billion naira of the 2020 debt and 20 billion naira of the benchmark 2024 paper.
The bonds are a reopening of previously issued paper. Results of the auction will be published the following day, the debt office said.
The 2020 bonds closed with a yield of 11.73 percent on Wednesday and the 2024 at 11.85 percent, with dealers predicting yields would fall at the auction next week.