Kenya extends sale of 12-year infrastructure bond worth Sh24bn

Kenya’s central bank invited bids on Tuesday for a 12-year infrastructure bond worth 24 billion shillings ($233.24 million) in a tap sale.

The bank said in a statement that the fixed coupon amortised bond would have a 12.5 percent coupon and an average yield of 13.555 percent. It will take bids until March 2.

At its auction on Feb. 22, the weighted average yield on the bond jumped to 13.555 percent from 11.556 percent previously.

The bank sold 6 billion shillings of the bond out of a target of 30 billion shillings.

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Treasury budget deficit Central Bank infrastructure bond raise money

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