SOLOMON Stockbrokers

1.       Issuer

United republic of Tanzania

2.       Amount

Competitive          Non – Competitive

TZS 110.03 Billion     TZS 0.50 Billion

3.       Auction Date

26 August 2020

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

27 August 2020 (T+1)

9.       Coupon

Fixed at 11.44% p.a.

10.   Redemption Date

27 August, 2030

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 28 August 2020

First Interest Date: 25 February

Second Interest Date: 27 August