Nigeria to raise 100 bln naira in local currency bond

LAGOS: Nigeria plans to raise 100 billion naira ($503.02 million) in local currency denominated bonds with maturities ranging between 5 and 20 years on March 16, the debt Management Office (DMO) said on Wednesday.

The debt office said it will raise 40 billion naira at par in the local bond maturing in 2036, 40 billion naira of the paper maturing in 2026 and 20 billion naira of the debt maturing in 2020.

The 2026 and 2020 maturing notes are reopenings of previously issued paper, while the 2036 maturing note is a fresh issue.