Govt completes P5B bond programme

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.