Bonds Market News Flash – Sept 2023

The Government reopened two bonds for sale in the primary market to raise KES 35B for budgetary support.

The reopened bonds are FXD1/2023/002, a 2-year bond with a remaining term of 1.9 months, and FXD1/2016/010, a 10-year bond with a remaining term of 2.9 years.

The coupon rates are 16.9723% p.a and 15.0390% p.a with tax of 15% and 10% respectively. The coupon payment months will be in February and August.

FXD1/2023/002 will issue 4 coupons and FXD1/2016/010 will issue 6 coupons to maturity. The period of sale is between 1st – 13th September, 2023. The minimum investable amount is Kes 50,000.

Below are the particulars of the bonds:

Name FXD1/2023/002FXD1/2016/010
Duration (years) 1.9 Years2.9 years
Coupon Rate16.9723%15.0390%
Withholding Tax15%10%
Minimum AmountKshs. 50,000.00Kshs. 50,000.00
Redemption Dates18/08/202517/08/2026

  • Auction Date: Wednesday, 13th September 2023.
  • Listing: The bonds will be listed on the Nairobi Securities Exchange.
  • Classification: The bonds are benchmark Bonds.


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