JUST IN:RBZ in new TBs auction for $200m

Tawanda Musarurwa

 The Reserve Bank of Zimbabwe (RBZ) today opened its latest auction for 272-day Treasury Bills to raise $200 million to fund “government operations.”

 This comes on the back of a successful $300 million raise last week through issuance of a 182-day paper.

 The latest offer is open to financial institutions such as commercial banks, building societies as well as the Infrastructure Development Bank of Zimbabwe and the Post Office Savings Bank.

 The 272-day TBs, which the central bank has availed to the market, have an open tender on yield basis interest rate and other special features such as prescribed asset status, liquid asset status, tax exemption as well as acceptability as overnight accommodation by the central bank.

 The RBZ said applications are restricted to two per investor at a minimum subscription of $1 million.

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