THREAD: Last week, the Bank of Uganda, on behalf of Government, held a bond switch auction. Here is what it means for investors in treasury bonds.
It means that on January 6, 2021, investors were given a chance to convert any bonds which are maturing on January 21, 2021 into other bond/s which will mature at a later point in time. It was optional and some primary dealer banks chose to participate.
If you are part of a savings group or are an individual investor and were not contacted about this option, then this move does not affect your investment.
If you are holding any bond/s set to mature on 21 January 2021, the Government will pay both the principal and interest as they fall due.
Government of Uganda remains committed to honoring its obligations, and Government securities are one of the safest investments in the market because they are risk-free.
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