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LequteMan
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The Debt Management Office has announced its plan to sell N100 billion ($615 million) worth of bonds with maturities ranging from 3 to 20 years at an auction next Wednesday
Using a Dutch auction system, DMO said it will auction N15 billion in the 3-year bond, N50 billion in the 10-year paper and 35 billion naira in the 20-year debt note.
“Successful bidders will pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned, plus any accrued interest on the instrument,” it said
According to BUSINESSDAY, the bonds are reopenings of previously issued debt notes, the debt office said, noting that the results of the auction will be released the following day.
#Nigeria #BusinessDay #bonds #DMO
Using a Dutch auction system, DMO said it will auction N15 billion in the 3-year bond, N50 billion in the 10-year paper and 35 billion naira in the 20-year debt note.
“Successful bidders will pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned, plus any accrued interest on the instrument,” it said
According to BUSINESSDAY, the bonds are reopenings of previously issued debt notes, the debt office said, noting that the results of the auction will be released the following day.
#Nigeria #BusinessDay #bonds #DMO
