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%.
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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.
