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Prime
CBK takes Sh71bn from oversubscribed June bond
The CBK’s decision to take up an amount higher than the targeted Sh50 billion also pointed to the expected increase in domestic borrowing target for the current fiscal year.
Investors offered the government Sh101.36 billion in the latest Treasury bond sale as they rushed to lock in returns of between 12 and 13 percent before an expected decline in interest rates following the recent cut in the central bank policy rate.
The government was in the market for Sh50 billion via a pair of reopened 15 and 30-year papers, but ended up netting Sh71.6 billion from the oversubscribed sale, having rejected Sh29.7 billion from investors.
