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Rwanda to sell 5-year, 10 billion franc Treasury bond in February

Rwanda will sell a five-year Treasury bond worth 10 billion francs ($12 million) this month to fund infrastructure projects, the central bank said on its website on Monday.

Bids for the bond, whose coupon will be determined by the market, will be received from Feb. 22 to Feb. 24.

Rwanda has been issuing bonds as part of a plan to develop its tiny capital market and fund infrastructure projects.

The country wants to reduce its dependence on aid to finance its national budget.

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

($1 = 827.1800 Rwandan francs)


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