The 91-, 182-, and 364-days government papers subscription came in at an average of 72.9 per cent from the 103.75 per cent recorded the previous week.
Treasury bills subscription fell further last week as firms including banks paid taxes and dividends limiting cash supply.
The 91-, 182-, and 364-days government papers subscription came in at an average of 72.9 per cent from the 103.75 per cent recorded the previous week.
“Corporate taxes were being paid this week and most listed banks were also paying dividends to their respective shareholders,” NIC Bank head of fixed income Stanslaus Kimani said Friday.
Only the 182-day government paper received 100 per cent buy after getting bids worth Sh10.1 billion against an offer of Sh10 billion.
Subscription rate for 91-day and 364-day government papers came in at 57.5 per cent and 52 per cent compared to previous 82.5 per cent and 95 per cent, respectively.
The government only accepted Sh17.1 billion of the Sh17.5 billion bids received against the Sh24 billion on offer in the auction. There was also shift to the Sh30 billion primary bond.
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