Dar es Salaam, Sept. 17 -- High demand greeted the auctioning of a 15- year bond by the Bank of Tanzania (BoT), last week, ending the trading session oversubscribed.
Through the debt instrument, the government wanted to raise 109bn/- but the amount tendered jumped to 116.62bn/-.
Nevertheless, apart from the oversubscription, the government retained only 94.73bn/-as successful amount.
This is the fifth 15- year debt instrument to be auctioned this year of which three ended the session oversubscribed and two undersubscribed.
The institutional investors namely commercial banks, pension funds, insurance companies and some microfinance institutions are among the active participants in the debt instrument.
The introduction of the 15-year ins...