NAIROBI (Xinhua) --
Kenya has issued for sale a 25-year Treasury bond
as appetite for government securities among investors hits a new
The bond whose tenure is the longest in five
years seeks to capitalize on high demand for the securities as
the Kenyan government further stretches the borrowing period.
The Central Bank in the prospectus for the security seen on
Monday said the 25-year Treasury bond (FXD 1/2018/25) has a
coupon rate of 13.4 percent.
"The bond is worth 400 million dollars and is for budgetary
The sale period ends on June 19," said the apex bank on
Investor appetite for government paper has soared
Last week, Treasury bills were massively oversubscribed, with
the overall subscription rate coming in at 211 percent from
The subscription rates for the 182- and 364-day papers were
the most sought, with uptake standing at 174 and 323 percent
respectively, despite decline in yields.
Analysts noted the government has floated the long-tenor bond
as it seeks to reduce pressure on interest payment.