GOVT PRESENTS E150 MILLION INVESTMENT OPPORTUNITY

MBABANE – The Swazi Government has presented an investment opportunity of up to E150 million.

The launch of a seven-year government infrastructure bond was issued under the E2 billion note programme of 2017 listed on the Swaziland Stock Exchange (SSX). 

On behalf of government, the Central Bank of Swaziland (CBS) announced the launch of the bond.
It was stated that the coupon rate for this bond would be fixed at 10 per cent.

The auction date will be next week Friday (January 26, 2018) 2017 for the sum of E150 million. The settlement date will be on January 31, 2018 while interest payment date will be on July 31 and January 31 in each year CBS said the bond would be issued by competitive multiple bid auction and was open to the public including individuals, corporate and institutional investors.

“The redemption date will be on January 31, 2025,” CBS announced. 
 All investors should apply through the primary dealers who are the four local commercial banks namely: SwaziBank, Standard Bank, Swaziland Building Society (SBS) and FNB.  

    
The purpose of the issuance was to develop the secondary market, establish a fair market price which will compensate both the borrower and investors for interest rate risks and to facilitate financial intermediation, while also meeting government budgetary requirements.   
It was mentioned that the applicable pricing supplement and other relevant documents pertaining to the issuance were available for viewing at the financial markets department of CBS, as well on the Central Bank website.

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