Kenya extends sale of 9-year infrastructure bond worth Sh16 billion

Kenya's central bank on Tuesday invited bids for a nine-year armotised infrastructure bond worth up to Sh16 billion ($156.63 million) in a tap sale.

The bond will have an 11 per cent coupon and an average yield of 14.753 per cent and the bank said it will accept bids between Dec. 15 and Dec. 31.

At its auction on Dec.9, the weighted average yield the bond stood at 14.753 per cent and the bank sold Sh13.96 billion worth of the paper out of 30 billion shillings offered.