As part of our ongoing commitment to keeping you abreast of investment opportunities, we are excited to draw your attention to an upcoming bond auction scheduled for Friday, April 26th, 2024.

The performance of Government bonds during the initial quarter of this year commenced on a strong footing. The January auction results demonstrated a noteworthy surge in demand, with bids totaling K3,252.47Mn against a target of K2,000Mn. Notably, the bid value exceeded the offered amount by K1,252.47Mn, with the 10-year bond garnering the highest subscription.

February and March witnessed a substantial demand for long-term bonds, particularly the 10 year and 15 year options, both of which were oversubscribed. Throughout these months, the total bond tender remained consistent at K2,000Mn per month. The oversubscription in long-term bonds can be attributed to the allure of higher coupon rates, offering investors an attractive source of semi-annual income.

The quarterly auction calendar released on April 3, 2024, signaled a reduction in the auction size from K2000Mn in the previous quarter to K1600Mn. For comprehensive details regarding the April bond offer, please refer to the Bond Prospectus Issue No. 04 – 2024 linked below:

Bond Prospectus Issue No. 04 – 2024

We encourage you to meticulously review the invitation to bid document and assess whether this investment aligns with your financial objectives and risk appetite.

Should you require any clarification or additional information, please do not hesitate to reach out to us. We firmly believe that this bond auction presents a compelling opportunity, and we urge you to delve deeper into its potential. Rest assured, we stand ready to support you in making well-informed investment decisions.