Rwanda has issued a 15-year Treasury bond worth 10 billion francs ($13.5 million) whose proceeds will be used to fund infrastructure projects and deepen its capital markets, the central bank said on Thursday.

The National Bank of Rwanda said the bond’s tenor will be the longest since it started issuing bonds in 2008 and had a 216 percent subscription rate.

It said both the bond’s coupon and yield came in at 13.5 percent. ($1 = 741.0000 Rwandan francs) (Reporting by Clement Uwiringiyimana; Editing by George Obulutsa and Toby Chopra)