LAGOS, Sept 15 Nigeria raised 121 billion naira
($372.88 million) in an auction of local-currency bonds on
Wednesday, with yields higher across the board, the Debt
Management Office said on Thursday.
The debt office sold 15 billion naira of 2021 paper at 15.14
percent at Wednesday's auction, compared with 15.08 percent at
the previous auction last month.
It also sold 30 billion naira of 2026 debt at 15.53 percent,
against 15.28 percent, and 60 billion naira of 2036 debt at
15.59 percent, compared with 15.53 percent.
The debt office also allotted an additional 16 billion naira
worth of the 2021 debt on a non-competitive basis to mandate
The West African nation has said it would borrow about 900
billion naira locally to finance part of the 2.2 trillion-naira
deficit in its 2016 budget, to plug shortfalls.
Nigeria issues local bonds as part of measures to finance
the government budget deficit and also to help manage liquidity
in the banking system
($1 = 324.5000 naira)
(Reporting by Oludare Mayowa, editing by Larry King)