Kenya Bond Market Update: 13-Jun-2023

The Last Call –The CBK has on offer the IFB1/2023/7Yr as they seek KES 60bn from its sale. The sale period ends today and bids must be at the CBK by 2.00 PM EAT. Below are my updated expectations for how the auction will play out:

• Bids: Bidding range of 14.99% - 15.50%
• Average: 15.00% – 15.20%
• Subscription: Oversubscription as a result of improved levels of liquidity in the market
• The prospectus for this auction is attached with all the required information to facilitate your bidding process.

For your trading activities for the day ahead, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting and bidding!

Below are the two-way quotes for the benchmark tenors, two-way quotes for the infrastructure bonds and the key rates:

Attached are the bond positions available today and the IFB1/2023/7Yr bond prospectus.

1. Bond Positions
2. IFB1/2023/7Yr