Nigeria Raises 10-Year Bond at 16.79%
Nigeria Debt Management Office (DMO) raised N288 billion from a 10-year bond introduced at its September 2026 primary market auction at the spot rate of 16.79%.
At the bond auction, the Debt Office offered N1 trillion across reopening and new local bonds. The offer was split as N600 billion for the 15-year reopening bond and N400 billion for the new instrument with 10 years tenor.
Though the offer was oversubscribed, the DMO under-allotted the offer and turned down more than half of the subscription for the reopening bonds.
Breakdown of the auction results showed that investors submitted N546.90 billion in total bids for the 10-year FGN bonds, above the N400 billion offered.
The DMO allotted N288.83 billion to investors at the Sept auction at the spot rate of 16.79%.
For the reopened bond, the DMO approved N460.01 billion out of N947.83 billion in total subscription at the spot rate of 16.85%, down from 17.79% at the previous auction.
In total, Nigeria raised N748.64 billion across the reopening and new bonds allotted to investors at the Sept. auction, out of about N1,495 trillion. #Nigeria Raises 10-Year Bond at 16.79%
