Nigeria sells 55 bln naira in bonds at mixed yields

LAGOS (Reuters) - Nigeria sold 55 billion naira ($320 million) of sovereign bonds with maturities of 3-, 10- and 20-year at an auction on Wednesday, attracting mixed yields amid a sell-off on the secondary market, the Debt Management Office said on Thursday. The debt office sold 20 billion naira of 20-year paper at 13 percent, compared with 12.69 percent at the previous auction last month and 25 billion naira in 10-year bond, at 12.8 percent against 12.79 percent at the previous auction. A total of 10 billion naira of the 3-year debt note was sold at 12 percent compared with 12.14 percent at the last auction in Oct. All the debt notes are reopenings of previously issues. Yields on Nigerian bonds have continued to rise at the secondary market as offshore investors exit the market on concerns on falling global oil price and rapidly depreciating local currency. (1 US dollar = 172.20 naira)