The Central Bank of Kenya has invited bids for a 10-year Fixed Coupon Treasury Bond worth Sh40 billion at a coupon rate to be determined by the market.
CBK said it would receive bids for the bond from 04/12/2018 to 11/12/2018 while the auction date and value date will be on13/12/2018 and 17/12/2018 respectively.
The funds raised from the issue will go towards Budgetary Support.
“The Central Bank will rediscount the bonds as a last resort at 3% above the prevailing market yield or coupon rate whichever is higher, upon written confirmation to do so from the Nairobi Securities Exchange.” read a prospectus from CBK.
