May 10, 2017 / 7:44 AM / 3 months ago

Rwanda to sell seven-year T-bond in May - central bank

KIGALI, May 10 (Reuters) - Rwanda will sell a seven-year Treasury bond worth 10 billion francs($12.08 million)this month to fund infrastructure projects, the central bank said on its website.

Bids for the bond, whose coupon will be determined by the market, will be received from May 22 to May 24.

Rwanda has been issuing bonds as part of a plan to develop its tiny capital market as well as fund infrastructure projects in the land-locked nation of 11 million people, which wants to reduce its dependence on aid to finance its national budget. ($1 = 827.5400 Rwandan francs) (Reporting by Clement Uwiringiyimana; Editing by George Obulutsa)

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