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T-Bills Subscription Hits 162.5% From 87.1% During The Week

BY Juma · April 23, 2018 04:04 am

T-bills were oversubscribed last week recording a subscription rate of 162.5 percent from a subscription rate of 87.1 percent the previous week.

According to a report released by Cytonn Investment, the increase in subscription was due to improved liquidity mainly as a result of government payments during the week.

The subscription rates for the 91, 182 and 364-day papers came in at 129.3, 179.5, and 158.6 percent respectively compared to 43.9, 69.5, and 121.9 percent respectively the previous week.

Yields on the 91, 182 and 364-day papers remained unchanged at 8.0, 10.3 and 11.1 percent respectively.

The acceptance rate for T-bills declined to 81.4 percent from 99.4 percent last the previous week with the government accepting a total of 20.8 billion shillings of the 20.9 billion shillings worth of bids received against the 24.0 billion shillings on offer.

The government of Kenya is currently 17.7 percent ahead of its domestic borrowing target for the current fiscal year.

The government has already borrowed 283.0 billion shillings against a target of 240.4 billion shillings (assuming a pro-rated borrowing target throughout the financial year of 297.6 billion shillings.)

Juma is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it. (020) 528 0222 or Email: info@sokodirectory.com

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