SOLOMON Stockbrokers

1.       Issuer

United Republic of Tanzania

2.       Amount

Competitive          Non – Competitive

TZS 70.00 Billion     TZS 7.77 Billion

3.       Auction Date

 16 April 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.       Minimum bid size

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

7.       Auction Results

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

8.       Settlement Date

17 April 2025 (T+1)

9.       Coupon

Fixed at 12.5% p.a.

10.   Redemption Date

06 February 2027

11.   Tax

Interest Income Is subject to withholding tax

12.   Currency

13.  Day count convention

14.  Trading

 15. Interest Payment Date

Tanzania Shillings (TZS)

Actual/365

Secondary trading in multiples of TZS 100,000 to commence on Friday, 18 April 2025

 Semi-annually from the issue date

First Interest Date: 06 February

Second Interest Date: 06 August

 16. 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

 17. Payment Adjustment

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