Kenya Bond Market Update: 20 January 2023

Published on
January 20, 2023
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Last Chance

 
Today is the last chance to be involved in the Tap Sale of both the FXD1/2020/5Yr and the FXD1/2022/15Yr. Attached is the prospectus for any details that may be required to submit your bids. Away from this, this week’s T-bill auction was oversubscribed once again as the CBK managed to lock in KES 29.389Bn from a total of KES 29.457Bn in bids received. The market once again favoured the shorter dated T-bills. Attached are the results in full for your perusal.
For your plays for the day ahead, below is a snapshot of what is available in the secondary market for your consideration. Happy hunting and enjoy the weekend!
 
Below are the two-way quotes for the benchmark tenors:
 
Indicative Two-Way Quotes - Benchmark Tenors
Benchmark Tenor Bid (%) Offer (%) Mov (t-t0)%
1Yr 10.50 10.00 0.00
2Yr 12.80 12.50 0.00
5yr 13.70 13.50 0.00
10yr 13.95 13.80 0.00
15yr 14.20 14.00 0.00
20yr 14.10 13.90 0.00
25yr 14.35 14.20 0.00
 
Below are details of the two-way quotes for the infrastructure bonds and the key rates:
 
Indicative Two-Way Quotes - IFB Series
IFB series Maturity Bid (%) Offer (%) Mov (t-t0)%
IFB1/2017/7 (IFB13) Nov-24 12.00 11.45 0.00
IFB1/2016/9 (IFB10) May-25 12.00 11.45 0.00
IFB1/2015/12 (IFB8) Mar-27 12.20 12.00 0.00
IFB1/2017/12 (IFB12) Feb-29 12.00 11.00 0.00
IFB1/2016/15 (IFB11) Oct-31 13.20 12.70 0.00
IFB1/2018/15 (IFB14) Jan-33 13.60 13.20 0.00
IFB1/2018/20 (IFB15) Oct-38 13.80 13.50 0.00
IFB1/2019/25 (IFB16) Feb-44 14.00 12.90 0.00
IFB1/2019/16 (IFB17) Oct-35 13.70 13.50 0.00
IFB1/2020/9 (IFB18) Apr-29 13.20 12.70 0.00
IFB1/2020/6 (IFB19) May-26 12.30 12.00 0.00
IFB1/2020/11 (IFB20) Aug-31 13.50 12.85 0.00
IFB1/2021/16 (IFB21) Jan-37 13.75 13.25 0.00
IFB1/2021/18 (IFB22) Mar-39 13.85 13.50 0.00
IFB1/2021/21 (IFB23) Aug-42 14.00 13.50 0.00
IFB1/2022/19 (IFB24) Jan-41 13.90 13.50 0.00
IFB1/2022/18 (IFB25) May-40 13.85 13.70 0.00
IFB1/2022/14 (IFB26) Oct-36 13.75 13.65 0.00
IFB1/2022/6 (IFB27) Nov-28 13.30 13.20 0.00
 
Key  Interest Rates   Mov (bps)
O/N Interbank 5.9730% 37.68
91 Day T-bill 9.474% 4.90
182 Day T-bill 9.891% 3.20
364 Day T-bill 10.470% 3.80
Inflation 9.06% -42.00
 
 
Attached are the bond positions available today, the T-bill auction results and the Tap Sale Prospectus & February 2023 Bond Prospectus.
Bond Positions Available Today
T-bill Auction Results
Tap Sale Prospectus & Bond Prospectus
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