The Government of Rwanda through the National Bank of Rwanda (BNR) has successfully issued a 15-year Treasury bond worth 15.0 billion Rwandan Francs. The issuance has been successful with a high subscription level of 168.9% from 72 applications received from different categories of investors.

The book was opened on Monday, August 20, 2018 at 8:00am and closed on Thursday, August 23, 2018 at 4:00pm.  

The book building method was used to price the bond and the final price was announced par with a yield of 12.9%. In the final allotment, individuals and retailers were allocated 18.0% of the total issued amount and institutional investors 57.4% while banks were allocated 24.6%. The total coupon will be paid semi-annually and will be listed on the Rwanda Stock Exchange on Tuesday, August 28, 2018.

The successful issuance is attributed to the prevailing macroeconomic conditions and continued join efforts in the public awareness campaign across the country in a bid to encourage Rwandans to invest in risk free Government securities.

Next issuance for this fiscal year will be a reopening of a 10-year bond on September 26, 2018.