Time flies with great content! Renew in to keep enjoying all our premium content.
Prime
Treasury nets Sh180 billion from bond tap sale amid high market liquidity
With the government under pressure to meet its high domestic borrowing target of Sh635.5 billion for the current fiscal year and fund elevated debt service costs in August, a tap sale was seen as a necessity to bring in new borrowing for the month.
The government has netted Sh179. 8 billion from the tap sale of the August infrastructure bond after it was oversubscribed four times over in a highly liquid money market.
The sale, which targeted Sh50 billion, attracted bids of Sh207.45 billion as investors brought back into the market the billions rejected by the Central Bank of Kenya (CBK) in the bond’s primary sale last week.
