Connect with us

Hi, what are you looking for?

Ubucuruzi

BRD inaugurates Frw 33.17 Bn oversubscription Bond

Kigali, 23rd October 2023 – The Development Bank of Rwanda (“BRD” or the “Bank”) has achieved a notable oversubscription of FRW 33.17 billion from its Sustainability Linked Bond (SLB), achieving a remarkable subscription rate of 110.59% through a public offer made available FRW30 billion in its inaugural bond which is the first tranche of the bank’s FRW150 billion Medium Term Note (MTN) program.

This bond offer which was launched on the 29th of September 2023 for a period of two weeks, with a minimum subscription threshold of FRW100,000 which comes with a seven-year maturity period at an annual coupon rate of 12.85%. The bulk of the bond subscriptions were made by banks and pension scheme funds, accounting for 64% of the issuance, with retail and other institutional investors covering the remaining portion.

With the primary market now closed, bond buyers can now access bonds through the Rwanda Stock Exchange through the authorised brokers, allowing those who initially missed the opportunity in the primary market to participate.

The Sustainability Linked Bond, which is a first of its kind regionally and globally by a national development bank supports BRD’s commitment to mainstreaming environmental, social, and governance (ESG) for partner financial institutions, increasing women-led business loans, and financing affordable housing. The success of this inaugural bond issuance gives BRD the confidence to start relying on capital markets to raise financing for its growth agenda.

Kampeta Sayinzoga, BRD CEO, expressed the bank’s deep appreciation, stating, “we would like to extend our sincere appreciation to all those who participated and supported this special issuance, it encourages us at BRD to keep finding innovative ways to raise financing for our national development agenda”.

This remarkable SLB is partially secured by the World Bank’s lending operation to the Government of Rwanda through the Access to Finance for Economic Recovery and Resilience Project (AFIRR). Following the approval from the Rwandan Capital Market Authority and successful primary offer, BRD’s inaugural SLB will be listed and traded on the Rwanda Stock Exchange starting Friday 27th October 2023, marking a significant milestone in the bank’s journey towards sustainable development financing.

For the past 56 years since our establishment, BRD is proud to be a strong pillar of Rwanda’s development journey. Our mandate is to ensure that the private sector plays its role of investing in sectors critical to achieving the National Strategy for Transformation (NST1) and the Sustainable Development Goals (SDGs) by availing affordable, long-term, and customized development finance.

Panorama

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Izindi wakunda

Amakuru

Guverinoma y’u Rwanda yasobanuye ibikubiye muri politiki y’imisoro ivuguruye, igaragaza ko izi mpinduka ari izigamije gushyira mu bikorwa gahunda ya 2 y’Igihugu yo kwihutisha...

Amakuru

Guverinoma y’u Rwanda yihanganishije ababuriye ababo mu mpanuka y’imodoka yahitanye abantu 20 abandi barenga 30 bagakomereka. Iyi mpanuka yabaye ku wa Kabiri, tariki 11...

Amakuru

Panorama Umuryango FPR Inkotanyi ukomeje amatora mu nzego ziwugize, ubu akaba ageze ku rwego rw’Intara n’Umujyi wa Kigali, aturutse ku mudugudu. Aya matora atandukanye...

Amagare

Tour du Rwanda igiye gukinwa ku nshuro ya 17 kuva ibaye mpuzamahanga no ku nshuro ya karindwi kuva igiye ku rwego rwa 2,1. Izatangira...

Advertisement

Address:

KG 17 Av 37
Remera-ARJ/RMC House
Amahoro National Stadium
Registration Number: RMC/C/14/015
Accreditation: RURA/ICT/LIC/210181745

e-mail: editor.panorama.rw@gmail.com; panoramarw@gmail.com

Tel: 0788300359 -0733003020

Twitter: @PanoramaNewspa1; @reneanthere
Facebook: Panorama Newspaper

Services:

Panorama Newspaper, Animation, Conducting Community debates, Organizing Talk shows, Consultancy in Media, Photography, Newsletters, Magazines, Videos, Documentaries, Translation, Editing, Book publishing, Motion picture, video and television programme production activities, Motion picture, video and television programme postproduction activities
Motion picture, video and television programme distribution activities, Motion picture projection activities, Other information service activities n.e.c.
Other publishing activities, Publishing of newspapers, journals and periodicals
Radio broadcasting, Television programming and broadcasting activities