CBK Seeks KSh 50 Billion in July Auction
The Central Bank of Kenya (CBK) is looking to raise KSh 30 billion through the reopening of two bonds flagged for budgetary support for the month of July.
The FXD1/2023/002 is a 2-year paper with a tenor to maturity of 1.1years with a coupon rate of 16.97%. Consequently, bidding runs from 26th June 2024 to 8th July 2024.
Notably, CBK has been issuing papers with varying maturities in a bid to smooth out future maturities while providing options for investors seeking both short and long duration investments.
In the face of higher interest rates, investors have been biased towards short term papers pointing to attractive returns with the Central bank rate maintained at 13.00%.