The Treasury reaped above expectations as the primary bonds issues this month brought in 51.38 billion shillings from the expected 40 billion shillings bringing the subscription rate to 128 percent.
The Treasury had issued to bonds; five-year and 20-year maturities with an expectation of raising 40 billion shillings for budgetary purposes.
The five-year maturity bond received 37.64 billion shillings worth of bids with the 20-year maturity bond settled with 13.73 billion shillings worth of bids. The total bids accepted by the CBK stood at 31.55 billion shillings, 23.06 billion shillings coming from the five-year maturity and the 8.49 billion shillings coming from the 20-year maturity bonds.
During the last month’s auction, the 20-year maturity bond dropped to 13.42 percent from 14.79 percent while the 5-year maturity went down slightly to 12.39 from 12.69 percent.