Sh30bn infrastructure bond bids cause T-bills undersubscription

Bidding for Treasury bills fell for the first time in weeks as attention turned to the higher-yielding Sh30 billion 15-year infrastructure bond auctioned on Wednesday.

The 15-year tenor infrastructure bond, the longest ever, was fully subscribed by investors, with the government taking Sh30.6 billion from the Sh35 billion offered by investors at a rate of 13.17 per cent.