Kenya raises Ksh.73.7 billion in June Infrastructure Bond

Kenya raises Ksh.73.7 billion in June Infrastructure Bond

Kenya’s National Treasury managed to raise Ksh.73.7 billion in its June Infrastructure Bond issue.

The Bond whose auction expired on June 7, was oversubscribed by 101.8 percent after investors raised Ksh.76.3 billion against a Ksh.75 billion target.

This is attributable to the Issue which was based on the tax-free status, overturning buckled performance that had been witnessed in May.

June bond has a maturing period of 18 months.

An estimated Ksh.35.3 billion from the bond sale proceeds is to be channeled towards debt redemptions with the balance representing new borrowing, according to a report by Citizen Digital.

Treasury bills are a short-term investment, with maturities of 91 days, 182 days and 364 days. This means that if you invest money in a Treasury bill, you will receive that money back within three months, six months or one year, depending on the bill you choose.

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Lawrence Baraza is a prolific writer with competencies in Digital Media, Print, and Broadcast. Baraza is also a Communication Practitioner currently spearheading Digital content on Metropol TV's Digital Desk.

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