The Central Bank of Kenya (CBK) relented to investor rate demands in the second auction of the October Treasury bond sale, accepting bids at an average above 14 percent as the government continues to face borrowing difficulties in the local market.
The CBK, which is the government’s fiscal agent, said sale of the 25-year bond that targeted Sh20 billion raised bids worth Sh14.9 billion, out of which it took up Sh13.7 billion at an average rate of 14.19 percent.
