By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE) –The Debt Management Office (DMO) said on Thursday Nigeria has raised N91 billion ($456.14 million) at a bond auction it held on Wednesday with yields rising by more than one (1) percent across all tenors.

A summary of auction result for March 2015 on the website of the DMO shows that a total of N20 billion worth of the five-year (5) bond was sold at 16.49 percent, up 95 basis points from 15.54 percent from the previous sale on February 11.

Also, a total of N40 billion worth of 10-year paper was sold at 16.84 percent compared with 15.75 percent previously sold.

In the same vein, N31 billion worth of the 20-year debt note was sold at a yield of 19.99 percent, up from 15.85 percent previously.

The data shows that total subscriptions stood at N119.14 billion compared with N123.6 billion at the last auction.

The DMO said the original coupon rate of 15.54 percent for the 15.54 percent FGN February 2020, 14.20 percent for the 14.20 percent FGN March 2024, and 12.1493 percent for the 12.1493 percent FGN July 2034 will be maintained.