Kenya Treasury bonds · auction of 13 July 2026
Kenya bond auction, 13 July 2026: FXD1/2022/010 at 12.782%
The Central Bank of Kenya's bond auction dated 13 July 2026 was a re-opening of FXD1/2021/020, FXD1/2022/010 and FXD1/2026/030.
Bids came to KES 144.5bn against KES 70.0bn on offer (206% subscribed), and the Treasury accepted KES 70.6bn.
FXD1/2021/020 cleared at 14.339%, against a 13.444% coupon, with 15.0 years to maturity. Its previous sale, on 25 May 2026, priced at 13.742%, so the yield is up 60 basis points.
FXD1/2022/010 cleared at 12.782%, against a 13.490% coupon, with 5.8 years to maturity. Its previous sale, on 21 October 2024, priced at 16.952%, so the yield is down 417 basis points.
FXD1/2026/030 cleared at 14.617%, against a 12.500% coupon, with 29.7 years to maturity. Its previous sale, on 20 April 2026, priced at 13.755%, so the yield is up 86 basis points.
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 5.8 years
At this auction KES 100,000 of face value cost about KES 105,135 (price 105.135 per 100), and the yield that implies is 12.78% 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 66,586 in coupons, plus KES -5,135 loss between what you paid and the KES 100,000 repaid; roughly KES 61,451 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 |
|---|---|---|---|---|---|---|---|
| FXD1/2021/020 | reopening | 14.339% | 13.444% | 15.0 | KES 20.86bn | KES 13.54bn | 100.186 |
| FXD1/2022/010 | reopening | 12.782% | 13.490% | 5.8 | KES 103.96bn | KES 51.03bn | 105.135 |
| FXD1/2026/030 | reopening | 14.617% | 12.500% | 29.7 | KES 19.65bn | KES 6.03bn | 88.566 |
Source: Central Bank of Kenya result notice · the PDF these figures were read from
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