The London Stock Exchange Monday listed the inaugural $40 million Bond in Rwandan Franc issued by the World Bank (International Bank for Reconstruction and Development (IBRD), rated Aaa/AAA.
The proceeds of this bond will be invested in Rwanda Government bond issued on its local capital market and listed on the Rwanda Stock Exchange Ltd (RSE).
— DKarusisi (@dkarusisi) January 20, 2020
The RWF-denominated bonds offer investors an annual coupon of 9.25% and are payable in USD. The bonds settle on January 24, 2020, and mature on January 20, 2023.
“We appreciate the World Bank issuing its first bond in Rwandan franc and providing their support for our growing domestic capital market,” said John Rwangombwa, Central Bank Governor, Rwanda.
— National Bank Rwanda (@CentralBankRw) January 20, 2020
The launch of the Rwandan Franc bond for the first time by the WB/IBRD highlighted Rwanda at the UK-Africa Invest Summit in London.
“The World Bank is pleased to support the development of the Rwandan capital market through this bond transaction by drawing international investor’s attention to the economic potential of Rwanda,” said World Bank Vice President and Treasurer Jingdong Hua.