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ISSUANCE OF COVID 19 BOND

www.mof.gov.zm
#treasury

The Bank of Zambia wishes to announce to the General Public that the Government of the Republic of Zambia is inviting applications for the issue of the COVID-19 bond.

The proceeds of the issuance are earmarked to be utilised in mitigating the negative impact of the pandemic ON ECONOMIC ACTIVITIES.

The COVID-19 bond is being issued under the following Terms and Conditions:

1. Amount of bonds available on offer is K2,671,000,000.00 (Two Billion Six Hundred and Seventy-One Million Kwacha) at cost.

2. The Covid -19 bond will be issued by re-opening the following tabulated bonds:

3. BOND MATURITY DATES

(i) 5-YEAR BOND
ISIN ZMI000004334
27 April 2025

(ii) 7- YEAR BOND
ISIN: ZMI000004409
29 June 2027

(iii) 10-YEAR BOND
ISIN: ZMI000004235
30 December 2029

(iv) 15- YEAR BOND
ISIN: ZMI000004283
29 June 2035

4. The minimum value of each offer will be K500,000.00 (Five Hundred Thousand Kwacha) at cost for both domestic and foreign investors.

5. All participating investors must be registered in the Central Securities Depository (CSD) system.

6. Non-bank participants must provide a letter of guarantee for each offer.

7. The pricing of the Bonds will be market based and will be benchmarked against the bond auction dated June 26, 2020.

8. The Bonds will be sold on a first come first serve basis from the time of publication of this notice until Friday July 31,2020 or upon realisation of the amount on offer.

9. The offers will settle on Delivery Versus Payment (DvP) basis atT+2 in the CSD.

10. All offers must be in multiples of K50,000.00 (Fifty Thousand Kwacha).

11. Applications indicating the tenor of the bond and offer amount should be submitted to the Bank of Zambia by completing an appropriate form which can be obtained from the Bank of Zambia online at www.boz.zm.

The completed forms can be submitted physically to the Financial Markets department or electronically by email to government.securities@boz.zm.

12. The Bank reserves the right to reject any bids not conforming to the terms and conditions as prescribed.

13. The Bonds will be traded like any other bond in the market and will be subject to general bond issuance conditions.

For further information and clarification please contact:

HEAD – COMMUNICATIONS

Bank of Zambia
PO Box 30080
LUSAKA
www.boz.zm
Email.info@boz.zm

https://www.facebook.com/groups/www.mof.gov.zm/permalink/3132635486852515/

CLOSING DATE: 31st JULY 2020