The federal government has issued N50 billion ($309.31 million) in 3-year and 10-year bonds, with strong demand chasing yields lower than what the government paid at its previous auction last month, the Debt Management Office said on Thursday.
The debt office sold N25 billion in the 3-year paper, maturing in August 2016, at a yield of 13.14 percent, down from last month’s 14.10 percent, while the 10-year bond, maturing in March 2024, fetched 13.10 percent, down from 14.20 percent.
Subscription for the bonds stood at N183.07 billion, lower than N185.56 billion at the previous auction.
