The Finance Ministry will float a 10-year variable rate bond tomorrow, with the initial interest payment in July fixed at 11.55 per cent, equal to the current yield on prevailing 91-day treasury bill.

After the first three months of the issue, interest on the VR investment bond, Series Aj, which remains open to subscribers until Monday, will be payable at the three-month treasury bill rate plus 1.5 per cent.

The bond, which is taxable and does not qualify as a liquid asset, matures April 21, 2017.