A two-year treasury note, as well as a five-year treasury bond, is set to be issued by the Finance Ministry on behalf government today, Monday, May 9, 2022.
The two senior unsecured debt instruments set to mature in May 2024 and May 2027 respectively are open to both resident and non-resident investors.
The two-year treasury note according to the Ministry, will be used to roll over existing bonds/notes that have matured.
Whereas the 5-year treasury bond will be a new issuance to aid the government to mobilise some funds to run its programmes for the 2022 fiscal year.
The Ministry, announcing the issuance of the debt instruments, failed to disclose the yields or interest rates at which they will be issued.
Funds expected to be raised from the issuance were also not disclosed by the Finance Ministry.
Bid offers for the two-year note and five-year bond occurred at 9 am on Wednesday, May 4, 2022, and Thursday, May 5, 2022.
Bond market specialists facilitating the issuance of the two-year note and 5-year bond are Absa, Databank, CAL Bank, Ecobank, Fidelity, GCB, Black Star, IC Securities and Stanbic.
Source: Norvanreports