The government is inviting investors to buy a 15 year treasury bond which is on sale until 23 July. The funds raised will be used to support the current budget. Treasury aims to collect KSh40 billion from the sale of the debt instrument. The bond is expected to mature in July 2034.
Government aims to generate KSh289 billion from domestic sources to seal the KSh607 billion budget gap.
Investors have a chance to buy the bond at a minimum price of KSh50,000. Interest on the debt product will be determined by the market. 10 percent withholding tax will be applied to the interest payments.
