Nigeria's debt office proposes to raise 270-330 bln naira in bonds in Q4

Nigeria's Debt Management Office (DMO) said on Wednesday it plans to raise between 270-330 billion naira in local currency-denominated bonds in the fourth quarter, as part moves to fund this year's budget deficit.
The debt office said it would auction between 135-165 billion naira worth of bonds maturing in 2021 and the same amount of the debt maturing in 2027.
In its latest issuance calendar, the debt office said the bonds will be re-opened from previously issued debt.
Nigeria expects a shortfall of 2.36 trillion naira for its 2017 budget, which it plans to raise in foreign loans from the World Bank, offshore and domestic markets.