Tanzania’s 7 years treasury bonds undersubscribed

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By Mnaku Mbani
The seven year treasury bonds floated by the Bank of Tanzania were undersubscribed by more than 50 per cent, which indicates the low liquidity in the market.

According to the bond auction result published by BOT today, a total of Tsh57 billion were tendered against Tsh138.46 billion on offer, which indicates under subscription of Tsh80 billion. A total of 53 bids were received but only 45 were successful. The Weighted Average Yield (WAY) to maturity is set at 18.4528 while the Weighted Average Coupon Yield was 14.8528.
The weighted average price for successful bids was 67.8658 while the highest bid was 73/100. The redemption date for the bond is set at January 2024.
However, the successful amount was Tsh53.113 billion.

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