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The Central Bank of Kenya issued the Third Infrastructure Bond for a total value of Kshs 14.5 Billion to finance specific projects in the Roads, Energy and Water sectors. The Bank is pleased to inform all investors and the public in general that the Bond recorded an excellent performance, with 770 bids received amounting to Kshs 35.3 Billion or 243.36% subscription. The auction management committee accepted 400 bids of Kshs.16.3 Billion. The auction registered a weighted average rate for successful bids of 9.579% down from 12.537% of its previous issue. On behalf of the Government, the Central Bank of Kenya wishes to thank all investors and the public for their overwhelming response and support in financing Infrastructure projects.
| Due Date |
02/19/2018 |
| Total Amount Offered (Kshs. M) |
14,500.00 |
| Bids Received (Kshs.M) |
35,287.31 |
| Performance Rate (%) |
243.36 |
| Number of Bids Received |
770 |
| Number of Successful Bids |
400 |
| Amount Accepted (Kshs. M) |
16,263.84 |
| Of Which: Competitive Bids |
1,468.65 |
| Non-Competitive Bids |
14,795.19 |
| Purpose / Application of Funds: |
|
| Redemptions |
|
| New Borrowing |
16,263.84 |
Coupon Rate (%) |
9.750 |
| Cut-off interest rate (%) |
9.649 |
| Price per Kshs 100 at cut-off |
100.498 |
| Average Yield to Maturity (%) |
9.579 |
| Price per Kshs 100 at Average Yield |
100.845 |
| |
This Auction(%) |
Last Auction
(%)07/12/09 |
Variance |
| WEIGHTED AVERAGE RATE FOR SUCCESSFUL BIDS |
9.579 |
12.537 |
2.958
|
| CUT - OFF INTEREST RATES |
9.649 |
12.995 |
3.346 |
| |
Ksh. M |
| OFFER AMOUNT (at cost) of which: |
16,500 |
| Redemptions |
3,036.64 |
| New Borrowing |
13,463.36 |
(i) The forthcoming issue(s) will be dated
(ii) The specific features of the Bond(s), that is the Tenor, Amounts, Coupon rates and issue terms will be provided in the
prospectus and in the press before the
issue date.
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