Kenya Treasury bonds · auction of 7 September 2026
Kenya bond auction, 7 September 2026: FXD3/2019/015 at 12.763%
The Central Bank of Kenya's bond auction dated 7 September 2026 was a re-opening of FXD3/2019/015 and SDB1/2011/030.
Bids came to KES 68.2bn against KES 60.0bn on offer (114% subscribed), and the Treasury accepted KES 47.7bn.
FXD3/2019/015 cleared at 12.763%, against a 12.340% coupon, with 7.8 years to maturity. Its previous sale, on 25 May 2026, priced at 12.971%, so the yield is down 21 basis points.
SDB1/2011/030 cleared at 13.694%, against a 12.000% coupon, with 14.4 years to maturity. Its previous sale, on 20 April 2026, priced at 12.996%, so the yield is up 70 basis points.
What this means for KES 100,000 of FXD3/2019/015
Worked from the published result · information, not advice
KES 5,245 every six months, after tax, for 7.8 years
At this auction KES 100,000 of face value cost about KES 99,562 (price 99.561 per 100), and the yield that implies is 12.76% a year. The coupon is 12.34%: KES 12,340 a year on KES 100,000 of face value, paid in two halves, KES 10,489 after 15% withholding tax.
Held to maturity (2034-07-10), that is about KES 82,218 in coupons, plus KES 439 gain between what you paid and the KES 100,000 repaid; roughly KES 82,656 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 |
|---|---|---|---|---|---|---|---|
| FXD3/2019/015 | reopening | 12.763% | 12.340% | 7.8 | KES 57.10bn | KES 41.14bn | 99.561 |
| SDB1/2011/030 | reopening | 13.694% | 12.000% | 14.4 | KES 11.09bn | KES 6.61bn | 90.360 |
Source: Central Bank of Kenya result notice · the PDF these figures were read from
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