Two year bond attracts bids worth Sh30.3 billion

The latest government two year bond attracted bids worth Sh30.3 billion, an oversubscription of more than four times, reflecting the interest the government issue attracted in the market.

The Central Bank of Kenya, on Wednesday said that the Sh10 billion bond whose interest rate was to be determined by buyers, received 446 bids but only 253 worth Sh16.3 billion were accepted.
The bond will pay interest at 11.114 per cent with no discount; down from the 13.826 per cent the previous bond issued in April is paying.
The 182 day Treasury bill auction that was seeking Sh4 billion received bids worth Sh4.994 billion and the yield dropped to 10.032 per cent down from 11.366 per cent last week