FG to borrow $1.40bn in bonds

– The Nigerian government is planning to borrow
between N305bn and N395bn ($1.08bn-$1.40bn)
– The government has said it will borrow about
N900bn locally to finance part of the N2.2tn
deficits in the 2016 budget

Finance minister, Kemi Adeosun
The money which will come in local currency-
denominated bonds have maturity range of five to
20 years in the third quarter of this year.
According to the Debt Management Office it will
auction between N105bn and N135bn worth of
bonds maturing in 2021, 2026 and 2036 in July,
while same bonds valued at between N95bn and
N125bn would be sold in August; and N105bn and
N135bn worth of the paper would be sold in
September.
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In its latest debt issuance calendar, the debt office
said the 2021 paper was a new issue, while the
2026 and 2036 maturing paper re-opened previously
issued debt, Reuters reported.
The Federal Government issues sovereign bonds
monthly to support the local bond market to create
a benchmark for corporate issuance and fund its
budget deficit.
The government has said it will borrow about
N900bn locally to finance part of the N2.2tn
deficits in the 2016 budget.
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– Governor’s aide
The debt office had on April 5 announced that it
plans to raise between N274bn and N365bn in local
currency-denominated bonds with maturities
ranging between five and 20 years in the second
quarter of the year.