The Namibian government, through the central bank, invites holders of the GC27 to participate in the switch auction scheduled for Wednesday, 22 April 2026.
The switch is to move N$7.2 billion invested (borrowed by government) in the GC27 into GC29, GC30, GC32, GC34, GC35, GC37, GC40, GC43, GC45, GC48, GC50 and the GC53.
Market participants are invited to bid the nominal amounts of the GC27 they wish to sell for destination stocks and the yield/price at which they wish to buy the destination stock, the central bank noted.
Allocation will be made in ascending order of switch ratios (GC27 dirty prices divided by GC29, GC30, GC32, GC34, GC35, GC37, GC40, GC43, GC45, GC48, GC50 and GC53 dirty prices).
The Bank of Namibia will fix the GC27 switch yield and thus the dirty price.
