Kenya Treasury bonds · auction of 16 December 2024
Kenya bond auction, 16 December 2024: FXD1/2024/010 at 14.685%
The Central Bank of Kenya's bond auction dated 16 December 2024 was a re-opening of FXD1/2024/010.
Bids came to KES 53.6bn against KES 20.0bn on offer (268% subscribed), and the Treasury accepted KES 43.4bn.
FXD1/2024/010 cleared at 14.685%, against a 16.000% coupon, with 9.2 years to maturity. Its previous sale, on 18 November 2024, priced at 15.855%, so the yield is down 117 basis points.
What this means for KES 100,000 of FXD1/2024/010
Worked from the published result · information, not advice
KES 6,800 every six months, after tax, for 9.2 years
At this auction KES 100,000 of face value cost about KES 110,168 (price 110.168 per 100), and the yield that implies is 14.69% a year. The coupon is 16.00%: KES 16,000 a year on KES 100,000 of face value, paid in two halves, KES 13,600 after 15% withholding tax.
Held to maturity (2034-03-13), that is about KES 125,630 in coupons, plus KES -10,167 loss between what you paid and the KES 100,000 repaid; roughly KES 115,463 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 |
|---|---|---|---|---|---|---|---|
| FXD1/2024/010 | reopening | 14.685% | 16.000% | 9.2 | KES 53.63bn | KES 43.45bn | 110.168 |
Source: Central Bank of Kenya result notice · the PDF these figures were read from
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