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Nigeria sells 69.2 bln naira in bonds, less than initial offer
December 15, 2016 / 10:24 AM / a year ago

Nigeria sells 69.2 bln naira in bonds, less than initial offer

LAGOS, Dec 15 (Reuters) - Nigeria auctioned 69.2 billion naira ($227 mln) worth of domestic bonds on Wednesday, less than it offered, after investors demanded higher yields for the notes, traders said.

Nigeria had initially offered to sell 95 billion naira in bonds maturing in 5, 10 and 20 years time, but cut back supply after investor demanded yields as high as 19 percent for the notes. (Reporting by Oludare Mayowa, Writing by Chijioke Ohuocha, Editing by Angus MacSwan)

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