Rwanda sold a three-year Treasury bond worth 15 billion francs ($20.25 million) at a rate of 11.80 percent, the central bank said late on Wednesday.

The East African nation also uses the issuance as a way of developing its capital markers. The bond will be listed for trading on the stock exchange, the central bank said.

It added that next issue will be in February next year when it will offer a 5 year Treasury bond.