Placement of bids for Frw 12.5 billion Treasury bond begins today

 National Bank of Rwanda today began receiving bids for the Frw 12.5 Treasury bond announced last week through book building. Book building is a process by which potential investors (mainly institutional investors) determine the demand and the price of a proposed issue of securities through public bidding.

National Bank will receive bids of a minimum amount of Frw 100,000 from retail investors and minimum bids of Frw 50 million from institutional investors.

The book building process will end on February 27, 2014 upon which the coupon rate will be determined. Interested investors can bid for the bond through intermediaries such as banks.

Secondary Market trading will begin on March 7, 2014 at the Rwanda Stock Exchange where the bond will be listed.

Rwanda News Agency

UM– USEKE.RW