Nigeria plans to raise 200-270 mln naira bonds in Q1

Reuters
A money dealer counts the Nigerian naira on a machine in his office in the commercial capital of Lagos, January 13, 2009. REUTERS/Akintunde Akinleye

LAGOS (Reuters) - Nigeria plans to raise between 200-270 billion naira in sovereign bonds ranging between 3, 10 and 20 years in the first quarter of the year, the Debt Management Office (DMO) said on Monday. The amount being proposed is higher than the actual debt issued in the last quarter of last year but lower than the amount raised in the corresponding period of last year. The DMO said it plans to auction between 70-90 billion naira in 3-year and 20-year paper each in January and February respecively, and 60-90 billion naira in 3-year and 10-year bond in March. All the bonds were re-openings of previous issues. Nigeria's debt office had issued a total of 195 billion in the 3-year and 20-year bonds in the last quarter of last year and 370 billion naira in the first quarter of the same year.