NAIROBI (Xinhua) --
Kenya will put up for sale two Treasury bonds
worth 40 billion Kenyan shillings (392 million U.S. dollars) as
it moves to raise more money from the domestic market.
The securities, a two-year bond and a 15-year bond, are the
first to be issued this year and the proceeds would be used for
budgetary support, the Central Bank of Kenya said on Friday.
The papers whose rates will be market determined will be sold
until Jan. 21 and their secondary trading will commence at the
Nairobi Securities Exchange a week later, according to the
The two bonds are being sold at a time when uptake of
government securities is low, with subscriptions to both
short-term and long-term papers declining.
In Dec. 27, 2018 auction, Treasury bills were
under-subscribed for the eight consecutive week, with the
overall subscription rate coming in at only 65 percent, a
decline from 93.9 percent in the previous week.
Kenya targets to borrow 2.7 billion dollars from the domestic
market in this fiscal year to finance its budget, and has
currently borrowed some 893 million dollars, according to the