Kenya floats Ksh.60 billion Bond in October for budgetary support

The Central Bank of Kenya (CBK) has floated a 15-year and 25-year Treasury Bonds (domestic credit market) as it seeks to raise Ksh.60 billion in October.

The purpose for the auction, according to the regulator is to support the country’s Ksh.3.3 billion 2022/23 budget.

Interested investors have been invited to submit their bids latest October 18, 2022.

Of the Ksh.60 billion, the CBK seeks to raise Ksh.40 billion from the two re-opened papers by October 3. The remaining Ksh.20 billion will be sort from the new 25-year bond sale which runs to October 18.

The rate for the two 15, 10-year T-Bonds is 11.250% and 12.340% respectively while the 25 year Treasury Bonds will have a coupon rate of 13.924%.

The new sale comes two months after the regulator failed to hit its July and August Bond auction target.

CBK records indicates the previous auction for the two months were subscribed at 92.27 per cent for bids totalling to Ksh.46.1 billion against a target of Ksh.50 billion.

Lawrence Baraza

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.

Related Articles

Back to top button