Huge demand as govt seals P1.3bn debt

The P700 million bonds and the P600 million treasury bill were fully subscribed, demonstrating a huge appetite for investment from the market. The over-subscription can also be seen in the strong bid to cover ratios on all papers, a ratio used to express the demand for a particular security during offerings and auctions.

According to statistics, the latest issuance by the Bank of Botswana included P400 million to complete bonds BW003, BW006 and BW007, which were initially offered last September, as well as the new P300 million bond, BW008. BW008 matures in 2020, while the rest will mature between 2012 and 2025.