BoB tests market with P3.5bn debt auction

Friday, April 26, 2024 | 390 Views |

Eyes on the ball: BoB governor, Cornelius Dekop. The central bank is the government’s principal economic advisor PIC: PHATSIMO KAPENG

The Bank of Botswana, on behalf of government, this week approached the capital market with a P3.5 billion request for debt, the biggest bid on record and a test of whether the eight-month long streak of successful fundraising can hold.

The auction of two treasury bills and three bonds was due to take place on Thursday, according to a notice seen on the central bank’s website at press time on Wednesday.

At the auction, the BoB, acting as government’s capital market agent and chief fundraiser, was due to offer P2 billion in record breaking treasury bills equally divided in P1 billion each and bearing maturities of three and six months. Also on offer for bidders were three reopened bonds ranging in maturities from 2027 to 2040.

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