The 364-day paper was heavily subscribed at a rate of 327.78 per cent, receiving bids worth Sh32.77 billion against an offer of Sh10 billion.
The regulator Central Bank of Kenya (CBK) accepted Sh23.30 billion from offer.
The oversubscription of the paper was attributed to the yields amongst the tenors going by the aggressive bids at the auction.
Treasury bills subscription peaked to the highest level in the current fiscal year hitting an overall performance rate of 183.10 per cent, lifted by appetite for the one-year tenor paper.
The 364-day paper was heavily subscribed at a rate of 327.78 per cent, receiving bids worth Sh32.77 billion against an offer of Sh10 billion.
The regulator Central Bank of Kenya (CBK) accepted Sh23.30 billion from offer.
The oversubscription of the paper was attributed to the yields amongst the tenors going by the aggressive bids at the auction.
“Nonetheless, the CBK is determined to keep rates under control and rejected Sh9.47 billion of the bids on offer. We also see a number of investors rolling over the 364-day Treasury bills at the auction due to higher current returns (c.11.0 per cent) in comparison to a year earlier,” analysts at Genghis Capital told the Business Daily on Friday.
However, the 91- and 182-day papers received least traction from investors recording 82.74 per cent and 78.57 per cent subscription rate respectively.
Yields on 91-, 182-, and 364-day papers came in at 7.950 per cent, 10.257 per cent and 11.127 per cent respectively.
