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Govt to auction E200 million bonds

Central Bank of Eswatini Governor Phil Mnisi.

By Silindzelwe Nxumalo

The Government of Eswatini through the Central Bank of Eswatini (CBE) has launched government bonds to the sum of E200 million. According to the statement issued by the CBE, the coupon rates for these bonds were fixed at 10.00 per cent, 10.25 per cent, 10.50 per cent, and 11.00 per cent respectively.

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The statement revealed that the Auction Date would be on October 26, 2023, for the sum of E200 million.
The CBE stated that the bonds would be issued using the competitive multiple bid auction model and was open to the public including individuals, and corporate and institutional investors.

“All investors should apply through the Primary Dealers who are the four local Commercial Banks,” read the statements. The CBE which is under the leadership of Governor Phil Mnisi stated that the purpose of the issuance was to develop the secondary market, establish a fair market price that would compensate both the borrower and investors for interest rate risks and facilitate financial intermediation, whilst also meeting Government budgetary requirements.

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They stated that the applicable Pricing Supplements and other relevant documents about the issuance were available for viewing at the Financial Markets Department of the Central Bank of Eswatini situated on the 3rd Floor, Umntsholi Building in Mbabane, as well as on the CBE website

The table below shows the bonds on auction:
NAME       DESCRIPTION                                                    COUPON      AMOUNT
SGO75      Reopening 3, maturing May 31, 2026.            10.00%          E50 million
SG076      Reopening 3, maturing May 31, 2028.            10.25%          E50 million
SG077      Reopening 3, maturing, May 31, 2030.           10.50%          E50 million
SG078      Reopening 3, maturing May 31, 2033.            11.00%          E50 million

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