The New Times (Kigali)

28 August 2014

Rwanda: Rwf15 Billion Treasury Bond Oversubscribed By 232 Percent

The Government's Rwf 15 billion Treasury bond issued on yesterday has been oversubscribed by 232 percent. The total bids for the bonds amounted to with Rwf 34.8 billion. This is the highest ever subscription recorded for any Rwandan government bond.

According to the National Bank of Rwanda Governor, John Rwangombwa, they received 91 bids from different categories of investors compared to 56 in the previous issuance.

Retail investors, which include small and medium enterprises and individuals increased to 39, up from 29 recorded in February this year.

Foreign investors from Canada, France, Belgium, Mauritius, Kenya and Tanzania also expressed interest in the bond, subscribing 6.1 per cent of the total bids.

Rwangombwa said today that the bond's final price was 12 per cent with a coupon rate of 11.875 per cent.

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