Kenya Treasury bonds · auction of 25 November 2013
Kenya bond auction, 25 November 2013: FXD3/2013/005 at 11.952%
The Central Bank of Kenya's bond auction dated 25 November 2013 was a primary issue of FXD3/2013/005.
FXD3/2013/005 cleared at 11.952%, against a 11.952% coupon, with 5.0 years to maturity.
What this means for KES 100,000 of FXD3/2013/005
Worked from the published result · information, not advice
KES 5,080 every six months, after tax, for 5.0 years
At this auction KES 100,000 of face value cost about KES 100,000 (price 100.000 per 100), and the yield that implies is 11.95% a year. The coupon is 11.95%: KES 11,952 a year on KES 100,000 of face value, paid in two halves, KES 10,159 after 15% withholding tax.
Held to maturity (2018-11-19), that is about KES 50,622 in coupons, plus KES 0 gain between what you paid and the KES 100,000 repaid; roughly KES 50,622 in all after tax.
Sold before maturity, the price moves with rates: if yields rise, the bond is worth less; if they fall, more. The Central Bank’s minimum bid is KES 50,000. Compare with bills, funds and deposits after tax →
Results
By bond
| Bond | Sale | Yield | Coupon | Years left | Bids | Accepted | Price /100 |
|---|---|---|---|---|---|---|---|
| FXD3/2013/005 | primary | 11.952% | 11.952% | 5.0 | KES 21.45bn | KES 14.95bn | 100.000 |
Source: Central Bank of Kenya result notice · the PDF these figures were read from
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