Nairobi, July 16 -- The Treasury took up an extra Sh19.9 billion above the target of Sh60 billion in the first bond sale of the new fiscal year, taking advantage of high investor appetite for the offer that was sold amid ample liquidity in the market.
Bond results published by the Central Bank of Kenya (CBK) show that investors bid a total of Sh116.92 billion on the three tranche bond, which consisted two re-opened 15-year papers first sold in 2012 and 2018 and a 25-year paper.
The Treasury took up Sh79.9 billion, which represents 12.1 percent of the targeted net domestic borrowing of Sh658.5 billion for the fiscal year.
The sale that concluded on Wednesday coincided with high liquidity in the market, due to government payments-revealed ...