The Central Bank announced the opening of an auction for long-term local public debt instruments, represented by treasury bonds with a maturity (3 years), according to the following conditions and details:

Participants' bids will be accepted on Monday, July 1, 2024.

The auction begins at ten in the morning and closes at twelve in the afternoon on the same day.

The auction is conducted competitively according to the percentages of returns offered, so that each participant can submit his bids at different percentages.

The total initial value of the auction is 10 billion Yemeni riyals, subject to increase if needed.

Participants can submit more than one bid with different returns between 18% and 20%.

Participants in this auction may bid on its behalf or on behalf of its customers.

 The results of accepting bids are announced and allocated to participants on the same day. 

Participants’ bids are submitted via the Refintiv electronic platform, while participants who do not have the ability to submit applications directly via the electronic platform can submit their bids via the General Administration of Public Debt and Government Borrowing email debt.domest@cby-ye.com, So that the application is made on their behalf by the specialists in managing the electronic platform at the Central Bank of Yemen.

The minimum bid value submitted by participants is 50 million Yemeni riyals, provided that the bid amount submitted is a multiple of 50 million.

The annual interest rate is set at 20%, so that interest is due to shareholders every 6 months, and is paid as subsequent interest according to the actual number of days from the settlement date.

The participant does not have the right to cancel or change bids after they have been allocated and accepted.

Settlements will be made within two business days from the auction date.

Notices from branches of the Central Bank in the liberated areas are accepted for all participants in the auction, provided that the notice sent is a notice of a cash supply in the branch’s vaults on the day specified for the supply with the value of the subscriptions.

All branches of the Central Bank of Yemen in the liberated governorates - in addition to the participating local banks - must adhere to all the details of these conditions specified above, and in the event that one of them violates these conditions, it must bear legal and financial responsibility and any consequences that may result from non-compliance with these conditions