The Treasury accepted Sh25.6 billion from Sh28.02 billion investors offered, a 116.78 per cent subscription rate.
The Treasury had targeted Sh24 billion from the auction.
Treasury bills registered oversubscription last week as investors redirected the cash rejected in the infrastructure bond to short-term government papers.
The Treasury accepted Sh25.6 billion from Sh28.02 billion investors offered, a 116.78 per cent subscription rate. The Treasury had targeted Sh24 billion from the auction.
“Treasury bills were oversubscribed in this week’s auction because the Treasury only accepted nine per cent of Sh55.7 billion bid on 15-year infrastructure bond and the rejected bids from the auction looked for a home in the T-Bills,” said Genghis Capital.
The subscription rates for the 91-, 182-, and 364- day papers came in at 99.60 per cent, 138.07 per cent and 102.36 per cent compared to 42.4 per cent, 99.4 per cent and 75.4 per cent respectively recorded the previous week.
The market weighted average rate for the three government papers came in at 8.004 per cent (91-day), 10.564 per cent (182-day) and 11.159 per cent (364-day).
The three-month paper attracted bids worth Sh3.9 billion absorbed by the Treasury out of a target of Sh4 billion.
The six-month paper received bids worth Sh13.8 billion with the Treasury absorbing Sh11.4 billion. The offer had a target of Sh10 billion.
The one-year paper attracted bids worth Sh10.2 billion, which was absorbed by the Treasury.
The offer targeted to raise Sh10 billion.
PAYE Tax Calculator
Note: The results are not exact but very close to the actual.
