The government’s five-year Rwf10 billion infrastructure bond has been oversubscribed by 222.3 per cent, with investors the banking sector taking the largest share of 43 per cent. According to a Central Bank statement, the bond attracted 64 applications from the various investor categories. The book was opened on August 21 and closed on August 23. Of the total applications received, investors from the banking sector took 43 per cent, retailers and individual investors took 29 per cent while institutional investors took 28 per cent. Participation by retail and individual investors went up sharply from 5.86 per cent in May this year to 29 per cent. The success of the issuance was attributed to ongoing campaigns across the country aimed at educating the population the culture of saving and the benefits of investing in government Treasury bonds. The bond issuance is part of government’s quarterly programme to fund infrastructure projects and help develop the local financial market. The TB will be listed on the Rwanda Stock Market on 29th of August. The yield of the bonds for investors is 12.2 per cent with coupons being paid semi-annually. The Central Bank has announced that in November this year, it will issue another seven-year bond.
