The third M-Akiba bond will close today (12 midnight 6th September) where the treasury sought to raise Sh500m infrastructure bond.
The bond opened on 19th August and issued through the Central Depository and Settlement Corporation (CDSC).
Interest payable will be paid every six months on 9th March 2020 and 7th September 2020 with the current issue maturing in September 2020.
Initial bond was offered in 2017 as a three-year paper with the treasury having floated offers worth Sh1.65 billion so far and only raised Sh782 million.
The minimum subscription for theM-Akiba bond is set at Sh3000 thus making the bond accessible to the public. Furthermore, it is attractive to investors as it offers a tax-free 10 per cent interest return.
On the contrary, normal treasury bonds have a minimum subscription amount of Sh50000 with the one-year treasury bill offering a taxable 9.19 per cent interest.
