Nigeria prices 3-year govt bond at 12.14 pct to attract investors

  

Nigeria priced its 3-year government bond at 12.14 percent at Wednesday's auction, up 102 basis points from the previous sale, to attract foreign investors unnerved by falling oil prices and a weakening Naira.

The Debt Management Office said on Friday that yields on its longer-term 10-year and 20-year government bonds were priced for sale at more than 30 basis points higher than at its last debt auction in September.

The foreign investors who are significant buyers of Nigerian debt were not rolling over bonds at maturity, analysts said. Instead, they were sending their money abroad to safe havens as interest rates in the United States begin to normalize.