By Christian Gaya, HakiPensheni Center
In the efforts of Government of Tanzania to lengthen the maturity profile of domestic debt, develop the country’s financial markets, raise funds for long term development projects and provide an anchor for...
other market instruments such as mortgage financing and corporate bonds, the Bank of Tanzania (BoT) on behalf of the Government of the United Republic of Tanzania will announce the launch of 25-year Treasury bond on Wednesday April 21, 2021.
The press release issued by BoT today March 8, further states that, the 25-year Treasury bond will have the following main unique features: Fixed coupon of 15.95 percent, interest payable semi-annually, exempt from withholding tax, and will be listed at the Dar es Salaam Stock Exchange.
“The prospectus describing the terms and conditions, and detailed information will be published prior to the issuance of the Treasury bond,” the press release describes.
Furthermore, the Bank of Tanzania has also revised the issuance calendar for Treasury bills and Treasury bonds for the financial year 2020/21 to accommodate the newly introduced 25-year Treasury bond.
The revised Treasury bonds issuance calendar from March to June 2021 is as outlined in the table below. The BoT press release says Treasury bills and bonds auctions will be issued on Wednesdays (i.e. alternating in each week).
“More details will be released in each auction Call for Tender,” it states.
|
Auction Date |
Bond Tenure |
Coupon Rate |
|
10-Mar-21 |
2 years |
7.82% |
|
24-Mar-21 |
10 years |
11.44% |
|
7-Apr-21 |
15 years |
13.50% |
|
21-Apr-21 |
25 years |
15.95% |
|
5-May-21 |
7 years |
10.08% |
|
19-May-21 |
20 years |
15.49% |
|
2-Jun-21 |
15 years |
13.50% |
|
16-Jun-21 |
5 years |
9.18% |
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