Kenya Treasury bonds · auction of 15 July 2026
Kenya bond auction, 15 July 2026: FXD1/2012/020 at 12.808%
The Central Bank of Kenya's bond auction dated 15 July 2026 was a switch auction of FXD1/2012/020.
Bids came to KES 8.2bn against KES 10.0bn on offer (82% subscribed), and the Treasury accepted KES 8.0bn.
FXD1/2012/020 cleared at 12.808%, against a 12.000% coupon, with 6.3 years to maturity. Its previous sale, on 11 May 2026, priced at 12.457%, so the yield is up 35 basis points.
What this means for KES 100,000 of FXD1/2012/020
Worked from the published result · information, not advice
KES 5,100 every six months, after tax, for 6.3 years
At this auction KES 100,000 of face value cost about KES 98,671 (price 98.671 per 100), and the yield that implies is 12.81% a year. The coupon is 12.00%: KES 12,000 a year on KES 100,000 of face value, paid in two halves, KES 10,200 after 15% withholding tax.
Held to maturity (2032-11-01), that is about KES 64,258 in coupons, plus KES 1,329 gain between what you paid and the KES 100,000 repaid; roughly KES 65,587 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 |
|---|---|---|---|---|---|---|---|
| FXD1/2012/020 | switch | 12.808% | 12.000% | 6.3 | KES 8.16bn | KES 7.95bn | 98.671 |
Source: Central Bank of Kenya result notice · the PDF these figures were read from
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