Nigeria to auction $399 mln in 7-year, 10-year bonds
Published September 26th, 2007
Nigeria is to auction 50 billion naira in 7-year and 10-year bonds on Wednesday as part of its domestic debt restructuring programme, the Debt Management Office (DMO) said.
The debt office will offer 30 billion naira in 7-year bonds and 20 billion naira in 10-year bonds at the auction to conclude its third quarter debt issue.
“The interest rate is to be determined at the auction. The marginal rates that clear the volume on auction or the highest accepted rates become the coupon for the issue,” the DMO said in a statement.
The result of the auction is expected to be published on Thursday.
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