On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Uganda Telecom Ltd listed a 54-billion Uganda shilling ($27 million) five-year issue of commercial paper on the Uganda Securities Exchange on Tuesday to raise funds to finance its expansion programme, senior officials said. The first tranche of the paper amounting to 24 billion shillings was offered to investors on the USE at the rate of 165 basis points above the prevailing 182-treasury bill rate. The rate stood at 13.75 percent on Wednesday last week.