CBK Raises Ksh Ksh.17Bn in the May Bonds Tap Sale

The Central Bank of Kenya has floated an 18-year Infrastructure bond worth KSh 20 billion to fund projects in the 2021/22 budget estimates.

The Central bank of Kenya (CBK) raised Ksh 17 billion from the KSh10 billion target Tap Sale on the May bonds.

The bond sales received investor bids totalling Ksh.17 billion with the CBK accepting the entire amounts offered.

Investors accepted returns of 13.49 per cent for the new 10-year paper on offer and 13.976 per cent for the re-opened 25-year issue.

Initially, the government sought to raise Kshs 60.0 billion for budgetary support, and received bids worth Kshs 43.1 billion and accepted bids worth Kshs 31.7 billion, translating to a 73.6 per cent acceptance rate.

However, the total amount received of Ksh.48.7 billion remains below the target that had been sought.

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IK is a Masinde Muliro University graduate. His interests are in news and analysis on women's rights, politics, technology, law, and global affairs.

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