Nigeria plans to sell 70bn naira of bonds on July 15

LAGOS: Nigeria plans to sell 70 billion naira ($351.85 mln) worth of bonds next week, its seventh debt auction this year, the Debt Management Office (DMO) said on Tuesday.

The debt office said it will issue 40 billion naira in five-year paper and 30 billion naira in the 20-year debt, using the Dutch Auction System on July 15.

All are the reopening of previously issued debt.

Last week the debt office said it would issue between 180 and 240 billion naira worth of bonds in the third quarter.