T-Bonds

CBK Rejects Ksh.37 Billion From Investors After Bond Sale

March 21, 2024
511 1 minute read
CBK Turns Down Ksh.37 Billion From Investors After Bond Sale
Section view of the Central Bank of Kenya along Haile Selasie Avenue, Nairobi.

The Central Bank of Kenya (CBK has raised Ksh.59 billion through Treasury Bond, surpassing the initial offer of Ksh.40 billion for the re-opened five-year bond and the new ten-year bond.

The five-year tap sale saw a robust response with bids totaling Ksh.35.8 billion, indicating strong investor confidence.

Meanwhile, the new ten-year Treasury Bond also witnessed considerable interest with bids amounting to Ksh.23.8 billion.

However, the CBK has been selective in its acceptance of bids, taking in only Ksh.22.6 billion, with Ksh.17.7 billion allocated for the five-year bond at a market weighted average rate of 18.5%.

Also Read: CBK Taps Ksh.240.9 Billion From February Bond

The new ten-year bond drew in Ksh.4.8 billion at 17.7%.

CBK has been approaching cautious means in managing the country’s fiscal responsibilities.

A total of Ksh.37 billion offered by investors has been declined in what is seen as CBK’s interest in maintaining financial stability and investor trust.

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March 21, 2024
511 1 minute read
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Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.

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