Dar es Saalam, June 25 -- The 15 years bond auctioned on Wednesday last week fetched bids worth 63.23bn/- below the amount sought to be raised implying low investors' appetite on long term instrument.
The Bank of Tanzania (BoT) auction summary shows that a total of 91bn/- was offered to the market for tendering and despite the undersubscription, the government retained 63.07bn/- as successful amount.
With the exception of 20 years Treasury bond and few other long term maturities have been ending the session oversubscribed while other debt instrument fetched low bids results to under subscription.
Funds sourced through the long debt instrument are used for financing long term infrastructure projects namely railway, roads, airports, bridge...