Kenya Government through the Central Bank of Kenya has returned to the market inviting investors to participate in a Tap Sale of the 12 Year Infrastructure Bond seeking to raise Sh 24 Billion.
The 12 Year Bond with a Coupon Rate of 12.50% was offered at a Yield To Maturity of 13.555%.
The sale comes after the Bank had rejected Ksh29 Billion on the same bond due to high bidding rates of 14.052% compared to the accepted rates of 13.555%.
In the initial sale of the bond, CBKt took up only 5.9 Billion out of offers worth Sh35.5 billion, a clear indication that Government was not ready to take up expensive debt.
