The Rwf15 billion five-year Treasury bond has been oversubscribed by 139 per cent, the central bank has indicated in a statement.

According to the statement released by the National Bank of Rwanda (BNR), institutional investors took a lion’s share of the bond at 71.3 per cent participation rate, while retailer investors were just 3.9 per cent and banks were allocated 24.8 per cent.

Participation by institutional investors have grown from 50.3 per cent in May, while that of retailers (individuals and SACCOs) dropped from 14.61 per cent and 35 per cent for banks.

The bond issued on August 24 will be listed on Rwanda Stock Exchange on Tuesday, August 30. It was priced at 12.25 per cent par yielding using the book-building method. Its redemption date is 20/08/2021.