Large turnouts awaits 10 yrs bond

The Bank of Tanzania (BoT) has offered the 11.44 coupon rate 10 years Treasury bond with 20bn/- that will go on sale this Wednesday, a large turnout awaits the security.
“Market expects large turnout on the issue with pensions funds expected to play a decisive role on yields,” Standard Chartered Bank comment on the sale direction of the bond.  

The bank added: “the expectation is a decline in yields between 100-200basic points (bps) from the last yield current at 16.97 per cent.”

In the last bond market the seven-year T-bond was oversubscribed four times after investors tendered 104.35bn/-. The central bank offered 25bn/-  only. the bond had a price tag of 10.08 per  cent.   

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