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Nigeria to auction 70 billion naira in 2019, 2022 bonds



Thursday February 16, 2012

Nigeria said it will issue 70 billion naira ($442 million) in sovereign bonds maturing in 2019 and 2022 on Feb. 29, its second monthly debt auction this year, the Debt Management Office (DMO) said on Thursday.

The debt office said it would sell 35 billion naira of each bond. These are re-openings of previous issues with the auction result expected to be released the following day.

"The DMO reserves the right to alter the amount allotted in response to market conditions," it said in a public notice.

Nigeria, Africa's second-biggest economy after south Africa, issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit.

Nigeria's central bank said it would auction treasury bills worth 149.65 billion naira at its bi-monthly debt auction next week.


Source: Reuters (Reporting by Oludare Mayowa)

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