Govt completes P5B bond programme

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The Bank of Botswana held an auction of Botswana government bonds and treasury bills on Friday which was oversubscribed bringing to an end the P5 billion bond issuance programme initiated in 2008.

The bonds were unique as it marked the maiden issuance of a new, longer dated 15-year-bond, providing the much needed benchmark for long term borrowings. Bank of Botswana auctions government bonds and treasury bills every six months, in March and September, and the auctions are open to members of the public.
The results of the auction indicated an oversubscription on all the bonds with the 6 month treasury bill fully allotted at P 800 million and oversubscribed by P 400 million.

The 2 year bond was fully allotted at P 200 million against P 301 million of total bids received, the  5 1/2 years was slightly under allotted, with P 192 million of the intended BWP 200 million being allotted, while the maiden 15 year bond was heavily under allotted, with only P 195 million of the P 700 million on offer being allotted, despite total bids received being P 824 million.

Editor's Comment
Happy Independence!

We are 56 years old and what do we have to show for it? Looking at where Botswana started and where it is today, there are a lot of developments, but whether the developments match the number of years we have enjoyed as a country is a topic for another day.The fact that cannot be denied is we have seen major developments, but we are still lacking in several pertinent areas.Our beautiful country imports almost everything. We import fuel, food,...

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