Rwanda Successfully Concluded Sale of Frw10 Billion Bond

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Rwanda through its Central Bank has successfully completed the sale of a 5 year Bond worthy Frw10 Billion.

The bond was oversubscribed by 209.1 percent with 57 applications received from different categories of investors.

The Central Bank employed book building method to price the bond. The book was opened on Monday February 20-2017 and closed on Wednesday February 22. The initial price guidance was announced at lower 12s which was later revised and the final price was announced at par with a yield of 12.375%.

The coupon will be paid semiannually and the bond will listed at the Rwanda stock exchange on Tuesday February 28.2017.

The success is attributed to the awareness campaigns done, in a bid to encourage the public to embrace a savings culture by investing in government Treasury bond. As a result, retailers and individual investor’s participation for the first time in history reached 19.51%.

Banks and non-financial institutional investors were allocated 35.91% and 44.58% of the total amount offered respectively.

The next issuance of this financial year will be on May 22.2017 for 7 year Treasury bond.

 

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