Central Bank of Rwanda
Barely three weeks since Central Bank announced to issue a 10-year treasury bond, it has been oversubscribed by over 290%.
“10-year Treasury Bond worth Rwf10 billion oversubscribed at a level of 293.46%, Bond prices at par with yield of 12.50%. A big thanks to all the investors especially retailers who represented 49.2%,” a statement by Central bank said.
The bond worth Rwf 10 billion was issued earlier this month to finance infrastructure and Capital Market.
The Government officially opened doors for bidders on May 21st and closed on May 23rd at 4.00PM while the T-Bond settlement was fixed on May 23rd, 2018 and the redemption for May 12th, 2028.
Bidders bought the bonds via BNR through a book building method whereby the minimum for competitive bidders was fixed at Rwf 50 million and Rwf 100,000 for non-competitive bidders.
To qualify for the bonds, Central Bank said one must be a Rwandan resident or a non resident with a Central Security Depository (CSD) account opened through licensed commercial banks or capital market intermediaries.
