A total of N75 billion was raised by the Debt Management Office (DMO) through bonds at this week’s auction, just as the Central Bank of Nigeria (CBN) has revealed? plans to mop up N154.9 billion from circulation through Treasury Bills.
According to the DMO, N75 billion worth of five-year, seven-year and 10-year bonds maturing in 2017, 2019 and 2022 were sold at the regular auction on Wednesday. The debt office said it sold N25 billion of each paper.
The yields on the bonds however rose as the five-year bond had a yield of 16.19 per cent from 15.85 per cent at last month’s auction. The debt office issued the seven-year paper at 16.59 per cent compared to 16 per cent previously, while the 10-year paper was issued at 16.30 per cent from 16.21 per cent at the last auction.
The original coupon rates of 15.10 per cent and 16.39 per cent for the April 2017 and January 2022 respectively, would be maintained, while the coupon rate for the June 2019 was set at 16.00 per cent, the DMO said in a statement.
Total subscriptions stood at N121.60 billion compared? to N129.70 billion at the June auction.
Meanwhile, the CBN would auction N154.9 billion in treasury bills next Thursday, July 26, 2012, with maturities ranging from three months to one year.
The apex bank said it would sell 34.8 billion naira in 91-day paper and 60 billion naira each in 182-day and 364-day bills respectively in a Dutch, or reverse, auction.