Rwanda Bonds: Institutional Investors Snatch March Bond with Lion shares

Rwanda Bonds: Institutional Investors Snatch March Bond with Lion shares

Rwanda’s Central Bank (BNR) 15-year Treasury Bonds worth 10 billion was successfully reopened with a subscription level of 230.91% from 60 applications received in different categories, central bank has said.

The books were opened Monday March 25 and closed Wednesday 27, 2019 at 4pm, with institutional investors getting a lion’s share.

The book-building method was used to price the bond and the final price was announced at a premium with a yield of 12.70% while the coupon remained fixed at 12.9%.

In the final allotment individuals and retailers were allocated 21.6% of the total issued amount and institutional investors at 48.4%, while banks were allocated 30.0%.

“The bond will continue to pay coupons semi-annually and will be listed on Rwanda Stocks Exchange on April 2nd 2019,” Central Bank said in a statement.

The successful insurance is attributed to the prevailing macroeconomic conditions and continued joint efforts in public awareness campaigns across the country,” the banks added in part.

BNR has launched Economic Clubs under the #BNREngage platform countrywide, and its teams yesterday started visiting schools in Kigali as we gear up for this year’s challenge.

Rwanda plans to roll out another 5-year bond on May 22, 2019.