Regulatory Alerts2020-07-01
Zimbabwe Government 270 and 364-day Treasury Bill Issues – 01 July 2020
The Reserve Bank of Zimbabwe, on behalf of the Government, invites commercial banks and financial institutions to subscribe to a ZWL$500 million treasury bill tender for 270- and 364-day tenures. Submissions must meet a ZWL$1 million minimum per investor, with a maximum of two bids allowed and allotments calculated at the weighted average yield rate. Issued to fund COVID-19 pandemic expenditures, these bills carry prescribed and liquid asset status, are tax-exempt, tradable, and accepted as collateral for overnight RBZ accommodation.
RE S E RVE BANK OF ZIMBA B W E ISSUED UNDER PUBLIC DEBT MANAGEMENT ACT -CHAPTER 22:21 (2015) ZIMBABWE GOVERNMENT 270 AND 364-DAY TREASURY BILL ISSUES The Reserve Bank of Zimbabwe (RBZ) on behalf of the Government of Zimbabwe hereby invites Commercial banks, Building Societies, POSB and IDBZ to subscribe to Government Treasury Bill Tender amounting to Five Hundred million dollars (ZWL$500,000,000-00). Applications must be for a minimum amount of One million Zimbabwe dollars (ZWL$1,000,000-00). The number of bids per investor is restricted to two (2) per issue and copies of the application forms are available from RBZ Local Dealers, 80 Samora Machel Avenue, Harare. Applications should be clearly Zimbabwe Government 270-Day and 364-day Treasury Features of the Bills Issuer: Government of Zimbabwe Amount on O er: Five Hundred million dollars (ZWL$500, 000, 000-00) Interest Rate: Open Tender on a yield basis Tenure: 270 days and 364 days Purpose of Issue: To meet Government COVID-19 pandemic expenditure O er Opens: Friday, 03 July, 2020 at 08:00 hours O er Closes: Friday, 03 July, 2020 at 12:00 hours Allotment and Payment: Friday, 03 July, 2020 Special Features • Prescribed Asset Status • Liquid Asset Status • Tradable • Tax Exemption • Acceptable as collateral for overnight accommodation by the RBZ • Allotment will be at weighted average rate. Reserve Bank of Zimbabwe reserves the right to accept or reject a portion of any or all tenders. For further details, contact Dealers on 2253747, 2253166, 2253151 or 2703000 RESERVE BANK OF ZIMBABWE FINANCIAL MARKETS DIVISION