The Debt Management Office will raise N70bn ($352m) in sovereign bonds with maturities ranging between five and 20 years on April 15, the DMO has said.

In a notice, the debt office said it would issue N30bn in five-year bond and N20bn each in 10-year and 20-year notes at an auction, using the Dutch Auction System.

All tenors are re-opening of previously issued papers, while results are expected the following day.

Meanwhile, the Central Bank of Nigeria over two weeks ago sold Treasury bills worth N167bn.

The CBN is planning to issue Treasury bills worth N995.5bn ($5bn) during the second quarter of this year.

The central bank has said it will have tenors of between three-month and one-year maturities, according to a debt issuance calendar obtained on Sunday.

The central bank said it would issue a total of N202.25bn of the three-month debt note during the period, and a total of N236.81bn worth of the six-month tenor; a total of N556.46bn worth of the one-year paper would be sold during the period.

A total of N945.5bn worth of Treasury bills issued earlier will be due for repayment during the same period.

The central bank had two weeks ago sold Treasury bills worth N254bn ($1.3bn). The yields on the debt notes were higher compared with a record on February 18.

Punch