Government of Rwanda to issue a 3-Year Fixed Coupon Treasury Bond worth FRW 15 Billion
As part of its quarterly issuance calendar , the National Bank of Rwanda on behalf of the Government of Rwanda, will once again issue a three year fixed coupon treasury Bond worth Frw 15 billion ($18.47 million).
The bond market will open on November 21st and close on November 23rd 2016, while settlement will be done on November 25th 2016. The bond will later be listed on the Rwanda Stock Exchange on November 28th 2016.
Competitive bids begin at Frw50,000, 000 with the minimum bid at Frw100,000.The coupon interest is paid semi-annually. The rate will be determined by competitive bidders and non-competitive bidders will get the weighted average rate of the market.
The Government has been issuing bonds as part of a plan to develop its capital market and fund infrastructure projects.
- John Rwangombwa,the Governor of the National Bank of Rwanda