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(a) RESULTS OF GOVERNMENT INFRASTRUCTURE BOND ISSUE NOS. IFB 1/2010/8 VALUE DATED 01/03/2010


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

(b) COMPARATIVE INTEREST RATES


  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

(c) FORTHCOMING TREASURY BOND(S) ISSUES FOR THE MONTH OF MARCH 2010 

  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 29th March 2010.

(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.