Dmo sells 120 bln naira bonds mixed yields

It appears that the Debt Management Office (DMO) of Nigeria has issued a new bond with a mixed yield structure, worth 120 billion Naira.

Here's a breakdown of the details:

• Face Value: 120 billion Naira (approximately $320 million USD, based on the current exchange rate)
• Mixed Yield Structure: This means that the bond will have a combination of yields, likely with different interest rates for different tenors (lengths of time until maturity).

The mixed yield structure is a common feature of Nigerian government bonds, as it allows the DMO to manage the cost of borrowing and attract investors with different risk appetites and investment horizons.

Some possible implications of this bond issuance include:

• Increased liquidity in the Nigerian bond market, as investors seek to take advantage of the attractive yields on offer.
• A potential increase in government borrowing costs, as the mixed yield structure may attract investors who are willing to take on more risk in exchange for higher returns.
• A boost to the Nigerian economy, as the bond issuance can help to finance government projects and stimulate economic growth.

It's worth noting that the DMO has been actively managing the country's debt profile in recent years, with a focus on reducing the country's reliance on foreign debt and increasing the share of domestic borrowing. This bond issuance is likely part of that strategy.