Gov’t raises Rwf3.5b from sale of bond

The National Bank of Rwanda (BNR), has raised Rwf3.5 billion on behalf of government through the auctioning of a Treasury bond. The Bank said in a statement that it had issued a 5 year government bond due to be listed on the Rwanda Over-The-Counter (OTC) market today.  The bond will expire on November 12, 2015 and is in line with the central bank’s framework of its quarterly issuance of government securities. The bond, which carries a coupon rate of 11 percent, was over subscribed by 201 percent or Rwf3.55 billion, which underlines the high investor appetite for government debt.