Heavy T-bill uptake cuts maturity of domestic debt

Under re-opened bonds, CBK offers investors a one-time price discount where the coupon is lower than yield, they are willing to lend at.

Photo credit: Shutterstock

The heavy uptake of Treasury bills – short term securities – has cut the average time to maturity of the overall domestic debt to signal building pressure on the State from upcoming redemptions.

Data from the Central Bank of Kenya (CBK) shows the average time to maturity for issued local securities including Treasury bills and bonds fell to 7.4 years in June 2025 from a slightly higher 7.5 years in June 2024.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.