Rwanda could issue a $1 billion bond in 2015
Rwandan President Paul Kagame announced that his country would return on the international debt market to raise funds in foreign currency in 2015.Rwandan President Paul Kagame announced that his country would return on the international debt market to raise funds in foreign currency in 2015.
He made the announcement in Washington, where a US-Africa summit was held this week, adding that the country could emit between $800 million (€600 million) and $1 billion.
"People who want to see Africa develop come to Rwanda particularly because we have set up a very good environment that makes things work for us and for our partners who come invest with us," he said,
In 2013, Rwanda's debut bond on international markets was a resounding success, as investors oversubscribed the offer 7.5 times.
Issued on April 25th for a total of $400 million (€307.5 million), payable over ten years at an interest rate of 6.875 percent, the loan has far exceeded the government's expectations, generating more than $3 billion.
The Ministry of Finance welcomed a "great result" that indicates Rwanda’s economic maturity and its attractiveness to investors on the international bond market.
Rwanda has had an average growth rate of 8.2
between 2006 and 2012. It should reach 7.5 percent in 2014, according to IMF estimates.