Kenya Treasury bonds · auction of 8 September 2025
Kenya bond auction, 8 September 2025: SDB1/2011/030 at 13.964%
The Central Bank of Kenya's bond auction dated 8 September 2025 was a re-opening of SDB1/2011/030.
Bids came to KES 8.1bn against KES 20.0bn on offer (40% subscribed), and the Treasury accepted KES 2.4bn.
SDB1/2011/030 cleared at 13.964%, against a 12.000% coupon, with 15.4 years to maturity. Its previous sale, on 23 June 2025, priced at 13.998%, so the yield is down 3 basis points.
What this means for KES 100,000 of SDB1/2011/030
Worked from the published result · information, not advice
KES 5,400 every six months, after tax, for 15.4 years
At this auction KES 100,000 of face value cost about KES 88,588 (price 88.588 per 100), and the yield that implies is 13.96% a year. The coupon is 12.00%: KES 12,000 a year on KES 100,000 of face value, paid in two halves, KES 10,800 after 10% withholding tax.
Held to maturity (2041-01-21), that is about KES 165,999 in coupons, plus KES 11,412 gain between what you paid and the KES 100,000 repaid; roughly KES 177,411 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 |
|---|---|---|---|---|---|---|---|
| SDB1/2011/030 | reopening | 13.964% | 12.000% | 15.4 | KES 8.07bn | KES 2.40bn | 88.588 |
Source: Central Bank of Kenya result notice · the PDF these figures were read from
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