The recently issued Rwf10 billion ten-year Treasury bond has been oversubscribed by 293.46 per cent, the Central Bank has announced. According to a statement from the National Bank of Rwanda, institutional investors took share of the bond at 25.4 per cent, individuals and retailers took 49.2 per cent, while banks were allocated 25.4 per cent. The Government officially opened doors for bidders on May 21 and closed on May 23 at 4pm. The successful issuance is attributed to the current market condition and continued efforts in the public awareness in a bid to encourage Rwandans to save money and invest in risk free bonds. The bond will be listed on Rwanda Stock Exchange on Tuesday next week. The bond coupon will be paid semi-annually. The bond is part of the Government’s quarterly TB issuance programme launched in 2014 and in line with the renewed Government commitment to revive the bond market and to promote the culture of mobilising long-term savings through securities market, the Central Bank says. editorial@newtimes.co.rw
