Nigeria sold 230 billion naira worth at a Treasury bills auction on Wednesday in a move to roll-over outstanding debt noted due to mature on Thursday, the central bank data showed.
The bank 193 billion naira worth in the one year bills, 26.60 billion naira of the six months paper and 10.25 billion naira of the three months debt.
The three months paper attracted 12.10 percent yield, six month fetched 13.75 percent while the one year debt was sold at 13.79 percent.
Nigeria has proposed to replace all outstanding treasury bill with external loan going forward and had refunded over 350 billion matured paper last year in furtherance of its plan.
Meanwhile, Africa's biggest economy says it plans to raise 110 billion naira by selling sovereign bonds with maturities of five and 10 years on Jan. 24, the Debt Management Office (DMO) said on Wednesday.
The debt office said it will raise 50 billion naira with the five-year bond and 60 billion naira with the 10-year paper, using the Dutch auction system.
The bonds are reopenings of previous issues and the result of the auction is expected to be published on Jan. 26, the DMO said.
The debt office said it will raise 50 billion naira with the five-year bond and 60 billion naira with the 10-year paper, using the Dutch auction system.
The bonds are reopenings of previous issues and the result of the auction is expected to be published on Jan. 26, the DMO said.
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