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    Khusoko – East African Markets
    MARKETS

    Kenya’s 2 and 15-year Treasury Bonds Raise Ksh 32bn

    KhusokoBy Khusoko2019-09-18Updated:2019-09-231 Comment1 Min Read
    Kenya’s 2 and 15-year Treasury Bonds Raise Ksh 32bn

    Treasury’s dual-tranche tenors floated Wednesday raised Ksh 32.6 billion, attracting bids worth Ksh 32bn out of the Ksh 50.0Bn offered for the reopened 2-year (FXD1/2018/15) and 15-year (FXD2/2019/15).

    The proceeds of the bonds will go towards debt redemption.

    The yields came in at 12.673% and 12.564% for the 2-year and 15-year bonds, respectively.

    This was at par with market analysts’ sentiments, “On the back of aggressive investor bidding among yield-hungry investors and duration play on the long end of the yield curve,” according to Commercial Bank of Africa Analysts.

    According to Genghis Capital, “The performance rate (65.3%) at the auction was impressive although the accepted bids came in 10bps above our expectation. The acceptance of the total bids at the auction sends a bold signal the extent that the National Treasury is in need of plugging its funding hole.”

    Early in the week, they had said, “ We do not expect positive uptake for the two longer maturity papers exacerbated by the timing uncertainty regarding the debate on Finance Bill 2019.”

    2-year and 15-year bonds Treasury Bonds
    Khusoko

    Multimedia platform providing analysis of business & financial news in East Africa.

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