The Kenyan government is seeking to raise KSh50 billion through the issue of two bonds; 5-year and 15-year fixed coupon treasury bonds.
The 5-year bond (FXD1/2020/5) is intended for budgetary support in the fiscal year 2019/2020, as Treasury plans to raise KSh271 billion through domestic borrowing.
The two treasury bonds will be on sale till 5th May 2019. The interest rate for the two bonds will be market-determined and Interest payments will be subject to a withholding tax of 15 percent for the 5-year bond and 10 percent for the 15-year bond.
In March, the treasury managed to collect KSh16.3 billion from the KSh50 billion 25-year infrastructure bond it offered to the public. The long-term infrastructure bond was undersubscribed by 41 percent.
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