Rwanda issues RF15 billion worth of bonds

Aug 27, 2014

Rwanda is issuing today (August 27th) an RF15 billion (€16.5 million) bond in local currency.

Rwanda is issuing today (August 27th) an RF15 billion (€16.5 million) bond in local currency.

Minister of Finance Claver Gatete said at a press conference on August 20th that the loan will help develop the capital market and finance infrastructure projects in the country,

Ecofin news agency reports.

He added that investors in the East African Community (EAC) can invest in debt with special terms.

Earlier this month, Rwandan President Paul Kagame announced that his country would return on the international debt market to raise funds in foreign currency in 2015 and could emit between $800 million (€600 million) and $1 billion.

In 2013, Rwanda's debut bond on international markets was a resounding success, as investors oversubscribed the offer 7.5 times.

Rwanda has had an average growth rate of 8.2
per cent
between 2006 and 2012, and it should reach 7.5 percent in 2014, according to IMF estimates.

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