LAGOS: Nigeria has issued 85 billion naira ($515.9 million) in three and 10-year bonds, the Debt Management Office (DMO) said on Thursday, with the re-opened three-year issue yielding more than the previous tranche sold last month.

The debt office sold 35 billion naira in the 3-year bond, maturing in August 2016 at 14.10 percent, higher than the 13.49 percent the debt note attracted at the previous auction.

The 10-year debt note, maturing in March 14, 2024, was sold at par, attracting a 14.20 percent yield.

The debt office had initially offered 45 billion naira apiece in the two maturities, but ended up increasing the amount sold on the 10-year paper and reducing the 3-year paper.

Total demand stood at 185.56 billion naira, with subscription for the 10-year paper heavier at 114.34 billion naira.