I-YEAR TREASURY BEARER BONDS AUCTION ANNOUNCMENT

THE BANK OF SIERRA LEONE INVITES APPLICATIONS FOR THE SALE OF 1-YEAR TREASURY BONDS TO THE FACE VALUE OF LE5,176,650,000 (FIVE BILLION, ONE HUNDRED AND SEVENTY-SIX MILLION, SIX HUNDRED AND FIFTY THOUSAND LEONES ONLY) THROUGH AN AUCTION SYSTEM ON MONDAY 26TH MAY 2008. BIDS ARE THEREFORE INVITED IN SPECIFIC INTEREST RATES. THE BONDS WILL BE ISSUED ON MONDAY 26TH MAY 2008 TO MATURE ON MONDAY 25TH MAY 2009.

APPLICATIONS SHOULD BE LODGED THROUGH ANY COMMERCIAL BANK OR DISCOUNT HOUSE IN THE COUNTRY FOR A MINIMUM AMOUNT OF LE50,000. BIDS CAN BE SUBMITTED FOR HIGHER AMOUNTS IN MULTIPLES OF LE50,000.

THE MARKET OPENS ON TUESDAY 13TH MAY 2008 AND CLOSES ON THURSDAY 22ND MAY 2008.

THE BONDS HAVE A FIXED MATURITY PERIOD OF 12 (TWELVE) MONTHS BUT INTEREST IS PAID QUARTERLY. CUSTOMERS MAY DISINVEST AT ANY TIME THROUGH THE COMMERCIAL BANKS AND DISCOUNT HOUSE(S).

BIDS SHOULD BE SUBMITTED NOT LATER THAN 16:30 HOURS ON FRIDAY 23RD MAY 2008.

Policy & Domestic Debt Division
Banking Department
Bank of Sierra Leone