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Nigeria opens retail savings bonds at lower yields after rate hold

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© Allen Dreyfus
  • Coupon rates cut slightly as DMO taps retail market for $2 billion in local funding
  • Moody’s upgrades Nigeria’s credit rating, citing reforms and improved fiscal outlook

Lagos, Nigeria – Nigeria opened subscriptions for two retail savings bonds on Monday at yields slightly below those of the preceding auction, signalling a shift in sovereign debt strategy after the central bank held interest rates steady last month.

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