Industry

Rwanda issues a 10 year fixed coupon Treasury Bond worth FRW 10 billion

BY EABW REPORTER

KIGALI, Rwanda–The government of Rwanda through the National Bank of  Rwanda (BNR) has successfully issued a 10 year bond  worth 10.0 billion Rwanda Francs.

The issuance has been successful with a remarkable subscription level of 293.46 from applications from
different categories of investors.

The book was opened on Monday May 21st, 2018 at 8:00AM  and closed on Wednesday May 23,2018 at 4:00PM.

The book-building method was used to price the bond and  the bond final price was announced at par a yield of  12.5%.

In the allotment, individuals and retailers were  allocated 49.2% of the total issued amount and
institutional investors 25.4% while banks were allocated  25.4%.

The bond coupon will be paid smi-annually and it will be  listed on the Rwanda Stock Exchange on Tuesday May 29,  2018.

The successful isssuance is attributed to current market conditions and continued joint efforts in the awareness campaign a cross the country in a bid to encourage Rwandans to save money and invest in risk free government debt securities.

Next bond issuance for this financial year will be a reopening of the seven year bond on June 25, 2018.