The African nation of Rwanda said that it has no plans to go back to the sovereign debt market after its unprecedented and successful debut issue in April, despite urges from investors said the country's finance ministry.
The country's dollar bond gained orders up to eight times larger than the size of the bond's issue. The yield fetched was 6.875 percent, amidst very low interest rates in developing countries across the globe which left investors in desperate situations.
"We have been getting so many demands saying 'when are you coming to the market in a big way',' Rwanda Finance Minister Claver Gatete said during a press briefing in Kigali, Rwanda's capital.
'For now we are saying that we don't have any kind of businesses that are ready for a bond,' he added.
Gatete also said that resumption of the previously suspended financial aid was ultimately halted due to concerns on the donors' end.
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