Yields on Nigeria’s naira-denominated bonds rose across the board at an auction on Wednesday, where about N112 billion ($563 million) worth of paper maturing in 2036, 2026 and 2020 was sold, the Debt Management Office (DMO) said on Thursday.
The debt office said it sold N50 billion of 2036 paper at 14.98 percent at Wednesday’s auction, compared with 13.90 percent at the previous auction last month.
It also sold N40 billion of 2026 debt at 14.40 percent, against 13.74 percent, and N22 billion of the 2020 debt at 14.20 percent against 13.24 percent.
Dealers said yield at the debt auction reflected the rise in inflation, which hit a six-year high of 15.58 percent in May.
