My crystal ball is definitely defective as my expectations were way off on this one. I’m reading through the after-sale benefits to make sure I can get a replacement before the next auction. For a quick summary of how the auction went, please have a look below:
- FXD1/2017/10Yr (4.5 years): average of 13.875% on the back of KES 7.469Bn in bids accepted from a total of KES 8.030Bn in bids received
- FXD1/2023/10Yr (10.0 years): average of 14.151% on the back of KES 9.279Bn in bids accepted from a total of KES 11.514Bn in bids received
- Subscription: Significantly undersubscribed as KES 16.748Bn in bids accepted from a total of KES 19.545Bn in bids received. This is way below the targeted KES 50bn set for this auction
Away from the primary auction and my inaccurate predictions, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting!