Bid Bid Bid
The sale period for this month’s auction closes today. The CBK has re-opened the FXD1/2017/10Yr (4.5 years) and has offered a new 10Yr bond, FXD1/2023/10Yr, in a bid to secure KES 50Bn. My expectations are as follows:
- FXD1/2017/10Yr (4.5 years): average of market bids to come in within the 13.55% - 13.65% range. Average of accepted bids to come in around 13.45% – 13.50%
- FXD1/2023/10Yr (10.0 years): average of market bids to come in within the 14.10% - 14.20% range. Average of accepted bids to come in around the 13.95% - 14.00%
- Attached is the prospectus for all details needed to submit your bids
Below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting and happy bidding!
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