The government has been forced to open a Sh50 billion tap sale of the oversubscribed August infrastructure bonds after the entire Sh95 billion that was realised in the issuance was gobbled up by a repayment of a maturing two-year bond.
The tap sale opened on Tuesday and will run until Thursday, but could close earlier once the Central Bank of Kenya (CBK) hits the targeted amount. The allotment of bids is on a first-come, first-served basis, the CBK said.
