November 21, 2018 - The Government of Rwanda through the National Bank of Rwanda (NBR) has successfully issued a 3-year fixed coupon Treasury bond worth 15.0 billion Rwandan Francs. The issuance has been successful with a high subscription level of 186.0% from 84 applications received from different categories of investors.

The book was opened on Monday, November 19, 2018 at 8:00am and closed on Wednesday, November 21, 2018 at 4:00pm. The book building method was used to price the bond and the final price was announced at par with a yield of 11.150%. In the final allotment, individuals and retailers were allocated 13.9% of the total issued amount and institutional investors were allocated 62.4% while banks were allocated 23.7%. The bond will pay coupons semi-annually and will be listed on the Rwanda Stock Exchange on Tuesday, November 27, 2018.

The successful issuance is attributed to the prevailing favorable macroeconomic conditions and continued joint efforts in the public awareness campaigns across the country in a bid to sensitize Rwandans to invest in risk free Government securities.

Next issuance for this financial year will be a reopening of a 10-year bond on January 23, 2019.