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Nigeria raises N85b at bond auction

14 June 2014, 15:47

Lagos - Nigeria on Thursday successfully raised N85.17bn ($521.3m)  in a bond auction with solid demand but was forced to pay slightly higher interest rate than the amount paid at the last such sale.

The bonds, which were in the 3- year and 10- year papers, were sold to local pension funds and offshore investors, reports National Mirror.

A breakdown of how the bonds were sold showed that Nigeria raised N30bn  in the 3-year bonds and N50bn in the 10-year paper .

The interest rates which the country is paying on these bonds are, however, higher  than what it paid during the last similar operation in May, 2014.

Read more at National Mirror.

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