SOLOMON Stockbrokers

1.       Issuer

United Republic of Tanzania

2.       Amount

Competitive          Non – Competitive

TZS 213.05 Billion     TZS 23.67 Billion

3.       Auction Date

 18 June 2025

4.       Procedure for Bidding

Bids will be submitted online through Central Depository Participants, and the process will be closed at 11:00 A.M on the auction date.

5.       Price per TZS 100

To be quoted at a discount to four (4) decimal places.

6.       Accrued Interest

TZS 4.9719 per TZS 100

7.       Minimum bid size

TZS 1,000,000 in multiples of TZS 100,000

8.       Auction Results

Auction results shall be made available on the Bank’s Website and at the Depository Participant’s offices immediately after the auction.

9.       Settlement Date

19 June 2025 (T+1)

10.       Coupon

Fixed at 15.25% p.a.

11.   Redemption Date

20 February 2045

12.   Tax

Interest Income Is Exempted from Income Tax

13.   Currency

14.  Day count convention

15.  Trading

 16. Interest Payment Date

Tanzania Shillings (TZS)

Actual/365

Secondary trading in multiples of TZS 100,000 to commence on Friday, 20 June 2025

 Semi-annually from the issue date

First Interest Date: 20 August

Second Interest Date: 20 February

 17. Defaulters

Successful bidders who fail to honor their obligations on time will be disqualified from participating in the subsequent auctions for a minimum period of one (1) month

 18. Payment Adjustment

When Redemption or Interest payment falls on a weekend or public holiday, the payment shall be made on the following business date.

 19. Keynote

The settlement price (dirty price) will include accrued interest shown in item 6. For example, if your bid price is TZS 100.000, the settlement price will be TZS 104.9719

 20. Eligibility

All East African Community, Southern African Development Community residents and Tanzanian citizens in the diaspora are eligible to participate.