Successful Auction – The CBK managed to surpass its target for the new infrastructure bond sale, the IFB1/2023/6.5Yr. A quick summary of the results is below:
· Average: 17.9327%
· Subscription: KES 88.899Bn in bids received. Out of this, KES 67.056Bn in bids was accepted, surpassing the KES 50Bn set.
· Commentary: KES 32.758Bn in non-competitive bids was submitted highlighting the increased participation of the retail segment of the bond market, especially when it comes to infrastructure bonds.
· Attached are the results in full for your perusal.
Below is a snapshot of what is at play within the secondary market post these auction results. Happy hunting!
Attached are the bond positions available today and the IFB1/2023/6.5Yr auction results.