Namibia’s Development Bank has issued a new 7-year bond via a private placement with a face value of N$ 130 million, the financier announced today in a statement. Xinhua News reports that the DBN29 bond was issued on 04 March 2022, and it matures on 05 March 2029. DBN29 was issued with a spread of 240 basis points above the 3-month Johannesburg Interbank Average Rate, meaning it will pay interest quarterly at 2.4 percent above the average rate at which banks buy and sell money. According to DBN, the bond is the bank’s first sovereign guaranteed bond, so its repayment is guaranteed by the government.