Tanzania’s 5 year Treasury bond undersubscribed

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By Mnaku Mbani
In what is described as the shortages of liquidity, the Tanzania’s five year Treasury Bond floated yesterday by the Bank of Tanzania undersubscribed by almost 50 per cent.
The Bank of Tanzania auction summary shows that a total of Tsh54.6 billion were tendered against Tsh105 billion on offers. However, at the end of the auction, the Bank of Tanzania only accepted Tsh3.5 billion worth bid tender.
The auction results shows that the highest bid was 72 per cent while the lowest bid was 60 per cent. However, minimum successful price was 71 per cent. A total of 66 bids were received but only 19 were successful.
The weighted average yield to maturity was set at 17.8705 per cent while weighted average coupon yield was 12.7499 per cent.
The bonds will be listed on the Dar es Salaam Stock Exchange Secondary trading in multiples of TZS 100,000 to commence on Tuesday 20th September, 2016.

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