DMO raises N214bn bonds

The Debt Management Office (DMO) on Thursday said it raised N214.95 billion worth of bonds at first auction in the year.
The DMO said it raised a N105.10 billion worth of 20-year bonds that would mature in 2036 at 16.99 per cent.
The office added that the coupon rate for the 20-year bonds was higher than the 16.43 per cent offered in the same category in December 2016.
It stated that it raised N74.90 billion on the 10-year bond at 16.99 per cent compared with the 16.24 per cent it offered at the last sale.
It noted that the 10-year bond category would mature in 2026.
The DMO sold N34.95 billion worth of the 2021 bond category at
16.89 per cent higher than the N15.99 per cent recorded in December 2016.