Rwanda now plans to sell $11.72m in­fra­struc­ture bond

Business Daily (Kenya) - - REGIONAL BUSINESS -

Rwanda will sell a seven-year Trea­sury bond worth $11.72 mil­lion (Sh1.2 bil­lion) this month to fund in­fra­struc­ture projects, the cen­tral bank said on its web­site.

Bids for the bond, whose coupon will be de­ter­mined by the mar­ket, will be re­ceived from Novem­ber 20 to 22.

The bank said the bond will be listed on the Rwan­dan stock mar­ket on Novem­ber 28 for se­condary buy­ers.

Rwanda also is­sues bonds as part of a plan to de­velop

its small cap­i­tal mar­ket. The East African coun­try aims to cut its de­pen­dence on aid to fi­nance its bud­get, 17 per cent of which cur­rently comes from aid money.

Newspapers in English

Newspapers from Kenya

© PressReader. All rights reserved.