Kenya’s CBK misses target on KES 30Bn. 5 Yr Bond receives KES 13.5 Bn.

Kenyan Government through the Central Bank of Kenya in its October bond sale saw it receive KES 13.5 billion against a set target of KES 30 billion.

The 5 Year Bond had a performance rate of 66.92% that attracted bids worth KES 20 billion. The bank however accepted only KES 13.50 billion of which KES 9.8 billion came from competitive bids and KES 3.7 billion came from non-competitive bids.

The market weighted average rate came in higher at 12.621% compared to the previous auction in August that had a rate of 12.548%.

The weighted average rate of accepted bids came in at 12.517% hence the coupon rate.

The next issuance will be dated 27 November, 2017.

Africa Sokoni