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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Investors cut uptake of Kenya government securities as yields fall

NAIROBI (Xinhua) -- Uptake of Kenya’s Treasury bills and bonds by investors is on downward spiral with most offers recording an underperformance.

Save for the 364-day Treasury bill, the rest of the papers namely the 91-day and 182-day bills and the August offer of a 10-year Treasury bond were massively undersubscribed this week.

For the Treasury bond, the government raised just half of the 400 million U.S. dollars it had sought to raise for budgetary support, according to National Treasury data on Friday.

Investors bids stood at 298 million dollars but the Central Bank accepted only 193 million dollars.

The 91-day and 182-day Treasury bills performance stood at 48 percent and 98 percent respectively from a total offer of 140 million dollars.

Yields for the 10-year bond stood at 12.6 percent, a 0.22 percentage point decline from the previous offer.

On the other hand, all the Treasury bills saw their rates fall this week by between 0.022 and 0.05 percentage points

 Uptake of Kenya’s Treasury bills and bonds by investors is on downward spiral with most offers recording an underperformance.

Save for the 364-day Treasury bill, the rest of the papers namely the 91-day and 182-day bills and the August offer of a 10-year Treasury bond were massively undersubscribed this week.

For the Treasury bond, the government raised just half of the 400 million U.S. dollars it had sought to raise for budgetary support, according to National Treasury data on Friday.

Investors bids stood at 298 million dollars but the Central Bank accepted only 193 million dollars.

The 91-day and 182-day Treasury bills performance stood at 48 percent and 98 percent respectively from a total offer of 140 million dollars.

Yields for the 10-year bond stood at 12.6 percent, a 0.22 percentage point decline from the previous offer.

On the other hand, all the Treasury bills saw their rates fall this week by between 0.022 and 0.05 percentage points

             

 

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