Investors scrabble for Rwandan US$400 million bond – 7.5 times oversubscribed

Rwanda issued a debut $400 million Eurobond in a sale that was heavily oversubscribed.

The 10-year dollar bond was issued on Thursday 25 April with a 6.875 percent yield, a lead banker told Reuters.

One investor source told IFR, a Thomson Reuters news and analysis service, that the order book was $3 billion, or 7.5 times the issue size.

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