Nigeria almost doubles bond size as funds grab high returns -traders

Nigeria almost doubles bond size as funds grab high returns -traders

Nigeria raised 243.7 billion naira at a bond auction on Wednesday, almost double the amount it had initially sought, as local funds and foreign investors piled into longer-term debt to lock in higher returns, traders said. Nigeria’s borrowing costs have fallen from as high as 18 percent a few months ago as inflation has slowed,…

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