Kenya Treasury bonds · auction of 21 September 2026
Kenya bond auction, 21 September 2026: FXD1/2019/020 at 13.611%
The Central Bank of Kenya's bond auction dated 21 September 2026 was a re-opening of FXD1/2019/020 and FXD1/2026/030.
Bids came to KES 81.4bn against KES 60.0bn on offer (136% subscribed), and the Treasury accepted KES 50.2bn.
FXD1/2019/020 cleared at 13.611%, against a 12.873% coupon, with 12.5 years to maturity. Its previous sale, on 27 July 2026, priced at 13.923%, so the yield is down 31 basis points.
FXD1/2026/030 cleared at 14.236%, against a 12.500% coupon, with 29.5 years to maturity. Its previous sale, on 13 July 2026, priced at 14.617%, so the yield is down 38 basis points.
What this means for KES 100,000 of FXD1/2019/020
Worked from the published result · information, not advice
KES 5,793 every six months, after tax, for 12.5 years
At this auction KES 100,000 of face value cost about KES 101,547 (price 101.547 per 100), and the yield that implies is 13.61% a year. The coupon is 12.87%: KES 12,873 a year on KES 100,000 of face value, paid in two halves, KES 11,586 after 10% withholding tax.
Held to maturity (2039-03-21), that is about KES 144,770 in coupons, plus KES -1,547 loss between what you paid and the KES 100,000 repaid; roughly KES 143,223 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 |
|---|---|---|---|---|---|---|---|
| FXD1/2019/020 | reopening | 13.611% | 12.873% | 12.5 | KES 43.80bn | KES 33.46bn | 101.547 |
| FXD1/2026/030 | reopening | 14.236% | 12.500% | 29.5 | KES 37.60bn | KES 16.72bn | 93.278 |
Source: Central Bank of Kenya result notice · the PDF these figures were read from
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