South Africa’s Borrowing Costs Rise at Government Debt Auction

South Africa’s borrowing costs rose at a central bank auction of government debt maturing in 2031 and 2036 today.

The Pretoria-based Reserve Bank sold 1.1 billion rand of bonds due 2031 at an average yield of 8.85 percent, five basis points higher than at the previous auction of the debt on Oct. 11. It sold 1 billion rand of notes due 2036 at a yield of 8.92 percent, 10 basis points more than at the previous auction on Sept. 27.

Investors bid for 2.1 times the amount of debt on offer.

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