Last call for all bids for the FXD2/2018/10Yr (5.8 years). The sale period for this bond closes today and bids must be submitted at the CBK by 2.00PM EAT. My expectations for this bond remain as below:
Average: 14.05% - 14.15%
Subscription: An under-subscription is expected
Attached is the bond prospectus for all the information required
For your secondary market activity, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting and good luck with this week’s auction!
Below are the two-way quotes for the benchmark tenors:
Indicative Two-Way Quotes - Benchmark Tenors
Benchmark Tenor
Bid (%)
Offer (%)
Mov (t-t0)%
1Yr
11.00
10.50
0.00
2Yr
12.80
12.50
0.00
5yr
13.75
13.70
0.00
10yr
14.20
14.10
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
13.20
12.70
0.20
IFB1/2016/9 (IFB10)
May-25
13.20
13.00
0.35
IFB1/2015/12 (IFB8)
Mar-27
13.30
13.00
0.40
IFB1/2017/12 (IFB12)
Feb-29
13.50
13.00
0.45
IFB1/2016/15 (IFB11)
Oct-31
13.50
13.00
0.00
IFB1/2018/15 (IFB14)
Jan-33
14.00
13.50
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
13.70
13.50
0.00
IFB1/2021/16 (IFB21)
Jan-37
13.75
13.60
0.00
IFB1/2021/18 (IFB22)
Mar-39
13.85
13.60
0.00
IFB1/2021/21 (IFB23)
Aug-42
14.20
13.80
0.00
IFB1/2022/19 (IFB24)
Jan-41
13.90
13.50
0.00
IFB1/2022/18 (IFB25)
May-40
13.80
13.70
0.00
IFB1/2022/14 (IFB26)
Oct-36
13.80
13.70
0.00
IFB1/2022/6 (IFB27)
Nov-28
13.30
13.20
0.00
IFB1/2023/17 (IFB28)
Feb-40
14.40
14.325
-0.01
Key Interest Rates
Mov (bps)
O/N Interbank
7.8612%
17.33
91 Day T-bill
9.907%
7.80
182 Day T-bill
10.399%
5.50
364 Day T-bill
10.800%
1.30
Central Bank Rate (CBR)
9.50%
75.00
Inflation
9.20%
25.00
Attached are the bond positions available today and the April 2023 Bond Auction prospectus.
