{"id":28408,"date":"2022-08-25T16:37:11","date_gmt":"2022-08-25T16:37:11","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/august-bond-auctions-raise-n680m-for-state"},"modified":"2022-08-25T16:44:55","modified_gmt":"2022-08-25T16:44:55","slug":"august-bond-auctions-raise-n680m-for-state","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/august-bond-auctions-raise-n680m-for-state","title":{"rendered":"August bond auctions raise N$680m for state"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>THE state has managed to overborrow this month over its two auctions for the month \u2013 raking in N$680 million in bonds from the market.<\/p>\n

THE state has managed to overborrow this month over its two auctions for the month \u2013 raking in N$680 million in bonds from the market.<\/p>\n

This is more than the N$315 million set aside as the only amount the Bank of Namibia (BoN) is supposed to borrow on behalf of the state.<\/p>\n

There were only two auctions set for this month, which both saw oversubscriptions and over-allotments.<\/p>\n

At this week’s auction, the state borrowed N$265 million, despite conducting an auction to raise only N$215 million.<\/p>\n

Answering to the state’s borrowing spree last week, deputy BoN governor Ebson Uanguta said it was indeed true that a lot was being borrowed at a faster rate.<\/p>\n

Asked whether this excess borrowing would crowd out private-sector investments, Uanguta said there is currently no indication of this.<\/p>\n

He said market liquidity indicates that sufficient cash is available for both the state and the private sector.<\/p>\n

Active bonds at the moment are the following fixed-rate bonds: the GC26, GC28, GC32, GC35, GC37, GC40, GC43, GC45, GC48 and GC50.<\/p>\n

Active inflation bonds include the GI27, GI29, GI33 and the GI36.<\/p>\n

Of the above, the GC50 bond is paying better coupons at 10,25%, and has thus far raised over N$2,6 billion for the state.<\/p>\n

All fixed-rate bonds are paying coupons of 8,5% and above, while inflation-linked bonds are all paying below inflation at between 4% and 4,8%. The next auctions for bonds will take place on 7 September.<\/p>\n

Email: [email protected]<\/p>\n

Twitter: @Lasarus_A<\/p>\n

This is more than the N$315 million set aside as the only amount the Bank of Namibia (BoN) is supposed to borrow on behalf of the state.<\/p>\n

There were only two auctions set for this month, which both saw oversubscriptions and over-allotments.<\/p>\n

At this week’s auction, the state borrowed N$265 million, despite conducting an auction to raise only N$215 million.<\/p>\n

Answering to the state’s borrowing spree last week, deputy BoN governor Ebson Uanguta said it was indeed true that a lot was being borrowed at a faster rate.<\/p>\n

Asked whether this excess borrowing would crowd out private-sector investments, Uanguta said there is currently no indication of this.<\/p>\n

He said market liquidity indicates that sufficient cash is available for both the state and the private sector.<\/p>\n

Active bonds at the moment are the following fixed-rate bonds: the GC26, GC28, GC32, GC35, GC37, GC40, GC43, GC45, GC48 and GC50.<\/p>\n

Active inflation bonds include the GI27, GI29, GI33 and the GI36.<\/p>\n

Of the above, the GC50 bond is paying better coupons at 10,25%, and has thus far raised over N$2,6 billion for the state.<\/p>\n

All fixed-rate bonds are paying coupons of 8,5% and above, while inflation-linked bonds are all paying below inflation at between 4% and 4,8%. The next auctions for bonds will take place on 7 September.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. THE state has managed to overborrow this month over its two auctions for the month \u2013 raking in N$680 million in bonds from the market. THE state has managed to overborrow this month over its two auctions for the month \u2013 raking in N$680 million in bonds from the market. This is […]<\/p>\n","protected":false},"author":84,"featured_media":28407,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[234,236,233],"class_list":["post-28408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nAugust bond auctions raise N$680m for state - Namibia<\/title>\n<meta name=\"description\" content=\"THE state has managed to overborrow this month over its two auctions for the month \u2013 raking in N$680 million in bonds fr ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/august-bond-auctions-raise-n680m-for-state\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"August bond auctions raise N$680m for state\" \/>\n<meta property=\"og:description\" content=\"THE state has managed to overborrow this month over its two auctions for the month \u2013 raking in N$680 million in bonds fr ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/august-bond-auctions-raise-n680m-for-state\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-25T16:37:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-25T16:44:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/08\/postQueueImg_3-6307a6f15a348.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"562\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/august-bond-auctions-raise-n680m-for-state#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/august-bond-auctions-raise-n680m-for-state\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"August bond auctions raise N$680m for state\",\"datePublished\":\"2022-08-25T16:37:11+00:00\",\"dateModified\":\"2022-08-25T16:44:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/august-bond-auctions-raise-n680m-for-state\"},\"wordCount\":498,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/august-bond-auctions-raise-n680m-for-state#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/08\/postQueueImg_3-6307a6f15a348.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/august-bond-auctions-raise-n680m-for-state#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/august-bond-auctions-raise-n680m-for-state\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/august-bond-auctions-raise-n680m-for-state\",\"name\":\"August bond auctions raise N$680m for state - 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