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Rwanda Issues Two Bonds Worth Rwf35B

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TARRIFA 27 MAR 2020

Rwanda, through the National Bank, successfully issued a 3-Year bond on March 25, 2020, with a subscription level of 167.78%.

The bond, with a 10.650% coupon interest rate,  attracted 55.30% local investors and a 72.10% portion subscribed by banks.

Another 7-Year bond, successfully reopened on March 25, 2020, was oversubscribed at 109.84%.

The bond was swallowed by local investors mainly local banks taking 57.7p% and remainder shared by institutions and retailers at 38.70% and 3.60% respectively with an interest rate of 11.550%.

The Central Bank told Taarifa on Friday evening that the funds mobilized through the bonds sre meant to develop the Rwanda Capital Market and infrastructure financing already budgeted for in the FY 2019-2020.

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