CBK extends sale of two-year and 10-year Treasury bonds
By David Indeje / Published September 26, 2017 | 6:16 am
The Central Bank of Kenya has invited bids for its two-year (FXD 1/2017/2) and 10-year Treasury bonds (FXD 1/2017/10) worth Ksh 13 billion in a tap sale. The bond will have an average yield rate and coupon of 11.619 percent, while the 10-year bond will have a coupon of 12.966 percent and average yield rate of 13.072 percent, and it will receive bids between September 26 -28. Results of the September 20 bond issuance came out with yields on the 2-year and 10-year re-opened paper: The Ksh30Bn on offer, bids totaled Ksh44.32Bn with subscription on the two-year taking the lion’s share at Ksh34.41Bn. “CBK accepted Ksh 20.69Bn and we hold the view a TAP Sale will ensue to sap the rejected bids. For the ten-year paper, subscription came to Ksh 9.91Bn with Ksh6.29Bn accepted by the regulator. This brings the total value on this paper to Ksh 23.97Bn,” noted Genghis Analysts on Monday.
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