Central Bank of Kenya(CBK) received bids worth KSh 43.2 billion at this week’s treasury bills auction out of KSh 24 billion on offer, an oversubscription of 180.15%, with the state fiscal agent accepting bids worth KSh 40.9 billion.
The most attractive debt instrument was the 91-day treasury bills which received bids worth KSh 37.5 billion out of KSh 4 billion on offer, an oversubscription of 937.42% with the monetary authority accepting bids worth KSh 35.3 billion. The least attractive paper was the 182-day treasury bills which received bids worth KSh 2.8 billion, a performance rate of 27.8%, with CBK accepting bids worth KSh 2.7 billion.
The 364-day treasury bills received bids worth KSh 2.96 billion out of KSh 10 billion on offer with CBK accepting KSh 2.95 billion, a performance rate of 29.63%.
CBK offer to investors
Investors were offered a return of 14.96%, 15.02%, and 15.33% for the 91-day, 182-day, and 364-day treasury bills at this auction compared to 14.87%, 14.97% and 15.18% at the prior auction.
Bids closure and the next auction is on 19th October 2023 with results to be announced the next day.
Results for the re-opened 2 and 5-year treasury bonds tap sale received bids worth KSh 12.3 billion while the Government was seeking to raise 35 billion. CBK accepted KSh 6.3 billion and rejected most of the bids from investors. Investors were offered a coupon rate of 16.9% and 16.8% for the 2-year and 5-year treasury bonds respectively.
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