Nigeria to sell sovereign bonds worth over $406m

Nigeria’s Debt Management Office (DMO) says it plans to sell N65 billion (about $406m) worth of sovereign bonds on December 17.In a statement on its website on Thursday, the DMO said that the bonds’ maturity dates would range from three, 10 to 20 years.

It added that the three-year bonds will be for N10 billion, the 10-year tenor bond would be for N30 billion, while the 20-year tenor bond will be for N25 billion.

The bonds will mature in August 2016, March 2024 and July 2034, respectively

The DMO said that the bonds would attract 13.05 percent, 14.20 percent and 11.15 percent yield rates respectively.