Issuances of Treasury Bonds in National Currency (OT-MN) reached 4,450.12 billion kwanzas (equivalent to USD 6.591 billion) in the period from January to September 2023, according to the third quarter securities report released by the Ministry of Finance (MINFIN) During this period, the OT-MN service reached a value of 3,127.26 billion kwanzas (equivalent to USD 4.83 billion), with 2,156.32 billion allocated to amortizations and 970.94 billion referring to the payment of coupon interest.
When disaggregating the debt service of OT-MN by type of security, around 78% corresponded to Non-Readjustable Treasury Bonds (OT-NR), without indexer, with 1,547.16 billion kwanzas in amortizations and 895.31 billion in coupon interest payments. Treasury bonds, securities indexed to the variation in the USD/Kz exchange rate with fixed interest rates, represented 22% of the total service, recording amortizations of 609.17 billion kwanzas and interest of 75.62 billion in the period in which analysis. According to the document, at the end of September last year, the total stock of OT-MN reached 9.09 billion kwanzas. Treasury Bill (BT) issues during the same period totaled around 724.29 billion.
The report also pointed out that the Treasury Bill service totaled 453.10 billion kwanzas, 94% of which was allocated to amortizations and 6% to interest. The stock of Treasury Bills on September 30 last year was mainly concentrated in Banco BPC (42%), BIC (18%) and brokers (9%). While Foreign Currency Bonds (OT-ME) generated a service of approximately 840.94 billion kwanzas, with the stock of these bonds in September concentrated in BAI (29%), Banco Millennium Atlântico (19%) and BFA (16%).
In relation to the type of creditor, the stock of debt denominated in national currency is predominantly held by commercial banks (64%), followed by legal entities (13%), BNA (8%) and pension and investment funds (5% ). In the case of stock and debt denominated in foreign currency, the data indicate that it is mostly held by National Commercial Banks (61%), followed by Public Institutions (23%), Legal Entities (11%) and Individuals (4%) .
BY: Francisca Parente