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DMO To Sell N140bn Bonds On June 21

The Debt Management Office (DMO), on Friday, said it plans to auction N140 billion in bonds on June 21.

The debt office will use the Dutch auction system to sell N40 billion of bonds due to mature in 2021 and N50 billion each for bonds due in 2027 and in 2037.

Settlement of the bond issue is expected the day after the sale, while the bonds are re-openings of previous issues.

It is expected to raise money to cover more than half the deficit from the local market.


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