The Central Bank of Kenya (CBK) has received bids worth KSh 9.7 Billion out of KSh 24 Billion worth of Treasury Bills offered at this week’s Auction, an under subscription rate of 40.35%.
The 91-day, six months and the one-year Treasury Bills received competitive bids worth KSh 5.9 Billion while the Auction received non-competitive bids worth KSh 3.7 Billion.
The average rates on accepted bids for the 91-day, 182 day and 364 days TBill was 6.257%. 6.600% and 7.508% respectively.
Auction date and bid closure for the next weekly T-Bills Auction is 27th August 2020 with results to be announced on 28th August 2020.
Bids are to be submitted to the CBK by 27th August 2020, and successful bidders request to make payments by 31st August 2020.
Non-competitive bids are subject to a maximum of KSh 20 Million. This does not, however, apply to state corporations, public universities and semi-autonomous government agencies.
This is the second TBill Auction in August that is being undersubscribed as investors shift to the more lucrative Infrastructure bond, whose sale ended this week.
ALSO READ:Central Bank Raises KSh 18.6 Billion from Weekly Treasury Bill Auction
