Treasury taps a mere Ksh.15 billion from October Bonds against Ksh.40 billion auctioned

The National Treasury managed to tap a mere Ksh.15.1 billion from the October Bonds against a Ksh.40 billion auction that closed on October 4.

It signalled a real snub by local investors in a re-opened 10 and 15 year Bonds issue

A 10-year paper with a 4.9-year maturity saw the highest investor subscriptions at Ksh.17.3 billion while a 15-year paper received Ksh.1.5 billion in subscription.

The performance is against the expectation of the liquidity in the money market following the end of General Election.

The exchequer still expects to raise Ksh.20 billion from the auction of a new 25-year paper whose auction closes on October 18, 2022.

It might be forced to accept bids above the set target of Ksh.20 billion as the government trails its domestic borrowing programme for the current fiscal year due to previously missed bond sales.

Monitor Your Business Transaction

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.

Related Articles

Back to top button