The Kenyan Government through the Central Bank has reopened the sale of ten and fifteen -year fixed coupon treasury bonds worth Sh 40 Billion.
The central bank said in a statement that the bond would be sold as from May 9th to May 16th while secondary trading will begin on Tuesday May 23rd. CBK pointed out that the auction will be on 17th May and the amount raised from the issue would go towards budgetary support.
“Possible as a last resort, the bond will be rediscounted at 3% above the the higher of prevailing market yield or coupon rate.” CBK said.
The 10-year bond will be sold at a weighted yield of 9.307 percent while the 15-year bond at the rate of 12.500% percent subject to withholding tax of 10 percent.