SOLOMON Stockbrokers

1.       Issuer

United republic of Tanzania

2.       Amount

Competitive          Non – Competitive

TZS 103.00 Billion     TZS 0.72 Billion

3.       Auction Date

 17 May 2023

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

18 May 2023 (T+1)

9.       Coupon

Fixed at 8.50% p.a.

10.   Redemption Date

18 May 2028

11.   Tax

Interest Income Is Exempted from 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 19 May 2023

Semi-annually from issue date

First Interest Date: 11 November

Second Interest Date: 11 May

 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