Kenya’s National Treasury through the central bank raised Ksh 20.8 billion from its five-year bond sale against a target of KSh50 billion.
The bonded attracted bids worth to Ksh 34.5 billion representing a 69 percent performance rate.
“The interest rate for the bond increased slightly compared to the previous issue of similar Treasury bond,” said the Central bank in its weekly bulletin dated 8 May 2020.
The average yield on accepted bids stood at 11.67 percent similar to a recently issued five-year issue listed on the Nairobi Securities Exchange (NSE) secondary bond market.
The funds raised are intended for budgetary support in the remainder of the fiscal year 2019/20 budget estimates.
Analysts expect a tap sale on a later date.
The redemption date is May 5, 2025. Investors are allowed to lock in between a minimum of Sh50, 000 and a maximum of KSh20 million.