Kenya Treasury bonds · auction of 25 April 2022
Kenya bond auction, 25 April 2022: FXD1/2022/015 at 13.942%
The Central Bank of Kenya's bond auction dated 25 April 2022 was a primary issue of FXD1/2022/015.
Bids came to KES 32.5bn against KES 30.0bn on offer (108% subscribed), and the Treasury accepted KES 27.6bn.
FXD1/2022/015 cleared at 13.942%, against a 13.942% coupon, with 14.9 years to maturity.
What this means for KES 100,000 of FXD1/2022/015
Worked from the published result · information, not advice
KES 6,274 every six months, after tax, for 14.9 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 13.94% a year. The coupon is 13.94%: KES 13,942 a year on KES 100,000 of face value, paid in two halves, KES 12,548 after 10% withholding tax.
Held to maturity (2037-04-06), that is about KES 187,573 in coupons, plus KES 0 gain between what you paid and the KES 100,000 repaid; roughly KES 187,573 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 |
|---|---|---|---|---|---|---|---|
| FXD1/2022/015 | primary | 13.942% | 13.942% | 14.9 | KES 32.55bn | KES 27.64bn | 100.000 |
Source: Central Bank of Kenya result notice · the PDF these figures were read from
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