January bond rates seen rising past 18pc
The Central Bank of Kenya headquarters in Nairobi. PHOTO | FILE | NMG
Photo credit: File | Nation Media Group
The interest rates on the dual-tranche January 2024 Treasury bond sale are expected to soar past the 18 percent mark as investors factor in the recent increase in the Central Bank of Kenya (CBK) base rate and the government’s upward revision of the domestic borrowing target.
Pre-auction analysis by three investment banks —Genghis Capital, Sterling Capital and AIB-AXYS Africa– projects bids falling between 18.3 percent and 18.9 percent for the bond offer, which comprises a new three-year bond and a third reopening of a five-year bond first sold in July.
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