The Government of Kenya through the Central Bank of Kenya is seeking KES 25 Billion ($247 Million) in the fixed income market for purposes of budgetary support.
The amount will be raised through a five year and twenty year bond. Bids on the five year bond will be market determined while the twenty year bond will have a fixed coupon of 14.000%.
Investors are encouraged to submit their bids till 20th September 2016. The Auction date will be on 21st and results will be announced thereafter on 22nd September.
Interest on the five year bond will be subjected to a withholding tax of 15% while the twenty year bond will be subject to a 10% withholding tax on its interest.
Minimum amount to be invested is KES 50,000.
Source: (Kenyan Wall Street, Central Bank of Kenya)
