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:
|Duration (years)||1.9 Years||2.9 years|
|Minimum Amount||Kshs. 50,000.00||Kshs. 50,000.00|
- Auction Date: Wednesday, 13th September 2023.
- Listing: The bonds will be listed on the Nairobi Securities Exchange.
- Classification: The bonds are benchmark Bonds.