Kenya Treasury bonds · auction of 21 October 2024
Kenya bond auction, 21 October 2024: FXD1/2022/010 at 16.952%
The Central Bank of Kenya's bond auction dated 21 October 2024 was a tap sale of FXD1/2022/010.
Bids came to KES 16.5bn against KES 15.0bn on offer (110% subscribed), and the Treasury accepted KES 15.1bn.
FXD1/2022/010 cleared at 16.952%, against a 13.490% coupon, with 7.5 years to maturity. Its previous sale, on 14 October 2024, priced at 16.952%, so the yield is unchanged.
What this means for KES 100,000 of FXD1/2022/010
Worked from the published result · information, not advice
KES 5,733 every six months, after tax, for 7.5 years
At this auction KES 100,000 of face value cost about KES 91,488 (price 91.488 per 100), and the yield that implies is 16.95% a year. The coupon is 13.49%: KES 13,490 a year on KES 100,000 of face value, paid in two halves, KES 11,467 after 15% withholding tax.
Held to maturity (2032-05-03), that is about KES 86,364 in coupons, plus KES 8,512 gain between what you paid and the KES 100,000 repaid; roughly KES 94,876 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 |
|---|---|---|---|---|---|---|---|
| FXD1/2022/010 | tap | 16.952% | 13.490% | 7.5 | KES 16.50bn | KES 15.09bn | 91.488 |
Source: Central Bank of Kenya result notice · the PDF these figures were read from
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