Treasury leans on four short term bonds to raise Sh222bn

The National Treasury has leaned on multiple reopenings of four short-term bonds to raise Sh222 billion since May, seeking to avoid committing to high-interest rates for the long term.

The bonds, with a duration of maturity of between two and five years, are paying elevated interest rates of up to almost 18 percent, which is nearly four percentage points higher than the yields that were being demanded for this duration three months ago.