CBK (Central Bank of Kenya) has floated a 10-year Treasury Bond as it seeks KSh 25 billion that the Government requires to support the financing of its 2023/24 budget.
- According to the CBK prospectus, the re-opened treasury bond with a tenor to maturity of 9.9 years and a fixed coupon rate of 16.0%.
- The bidding process opened on Thursday 25 April 2024 and will close on Thursday, 2 May 2024.
- The prospectus shows that this treasury bond has a value date will be 6th May 2024, with a maturity date of 13 March 2034.
This treasury bond tap sale follows a twin sale that occurred at the beginning of April where the CBK was seeking to KSh 65 billion.
According to the 2023/24 budget, Kenya’s fiscal deficit including grants is projected at KSh 718.0 billion. This shortfall will be financed by net external borrowing of KSh 131.5 billion and net domestic borrowing of KSh 586.5 billion.
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