The Central Bank of Eswatini has announced the launch of a new government infrastructure bond valued at E200 million. The bond, titled SGIFB008, is scheduled for auction on May 26, 2025, and will mature on May 30, 2032. It carries a fixed annual coupon rate of 11.50 percent.
The issuance is part of efforts to finance critical infrastructure projects aimed at driving the country’s economic, business, and social development. The bond will be auctioned through a competitive multiple bid process and is open to individuals, corporates, and institutional investors. All applications must be submitted via the four local commercial banks acting as primary dealers.
Investors interested in participating are required to ensure their bids are lodged in the Central Securities Depository System (CSD) by 10:00 a.m. on the auction day. Settlement is expected on May 30, 2025.
The bond, which falls under the E2 billion Infrastructure Bond Programme initiated in 2017, will be listed on the Eswatini Stock Exchange. Secondary market trading will begin on June 9, 2025, in multiples of E10,000.
Non-competitive bidders can participate from as low as E10,000, while direct institutional bids start at E1 million. The coupon interest will be paid twice a year—on May 30 and November 30—with the bond not subject to withholding tax.
Additional bond documents and pricing supplements are available at the Financial Markets Department of the Central Bank in Mbabane or via the Bank’s website.
Leave a comment