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.

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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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