Kenya Treasury bonds · auction of 22 June 2026
Kenya bond auction, 22 June 2026: FXD1/2021/025 at 14.864%
The Central Bank of Kenya's bond auction dated 22 June 2026 was a re-opening of FXD1/2018/020 and FXD1/2021/025.
Bids came to KES 77.6bn against KES 60.0bn on offer (129% subscribed), and the Treasury accepted KES 42.6bn.
FXD1/2018/020 cleared at 13.989%, against a 13.200% coupon, with 11.7 years to maturity. Its previous sale, on 22 September 2025, priced at 13.583%, so the yield is up 41 basis points.
FXD1/2021/025 cleared at 14.864%, against a 13.924% coupon, with 19.8 years to maturity. Its previous sale, on 11 May 2026, priced at 13.695%, so the yield is up 117 basis points.
What this means for KES 100,000 of FXD1/2021/025
Worked from the published result · information, not advice
KES 6,266 every six months, after tax, for 19.8 years
At this auction KES 100,000 of face value cost about KES 95,870 (price 95.870 per 100), and the yield that implies is 14.86% a year. The coupon is 13.92%: KES 13,924 a year on KES 100,000 of face value, paid in two halves, KES 12,532 after 10% withholding tax.
Held to maturity (2046-04-09), that is about KES 248,093 in coupons, plus KES 4,130 gain between what you paid and the KES 100,000 repaid; roughly KES 252,223 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 |
|---|---|---|---|---|---|---|---|
| FXD1/2018/020 | reopening | 13.989% | 13.200% | 11.7 | KES 22.68bn | KES 19.56bn | 99.016 |
| FXD1/2021/025 | reopening | 14.864% | 13.924% | 19.8 | KES 54.95bn | KES 23.01bn | 95.870 |
Source: Central Bank of Kenya result notice · the PDF these figures were read from
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