Treasury bills oversubscribed by 18%

The most attractive instrument was the 91 day Treasury Bills which received bids worth Sh12.14 billion.

In Summary

•The weekly trading data by the Central Bank of Kenya(CBK) shows the government received bids worth Sh28,4 billion out of Sh24 billion on offer, a performance rate of 118.24 per cent.

•The Government’s fiscal agent accepted Sh28.37 billion made up of Sh16.9 billion in competitive bids and Sh11.5 Billion in non-competitive bids.

Treasury CS Ukur Yatani.
Treasury CS Ukur Yatani.
Image: FILE

Investor continued to move towards risk free government securities, oversubscribing short term issues.

The weekly trading data by the Central Bank of Kenya(CBK) shows the government received bids worth Sh28,4 billion out of Sh24 billion on offer, a performance rate of 118.24 per cent.

The Government’s fiscal agent accepted Sh28.37 billion made up of Sh16.9 billion in competitive bids and Sh11.5 Billion in non-competitive bids.

The Government’s fiscal agent accepted Sh28.37 billion made up of Sh16.9 billion in competitive bids and Sh11.5 Billion in non-competitive bids. out of the Sh4 billion on offer, a performance rate of 303.64 per cent, with the CBK accepting Sh12.14 billion.

The 182-day Treasury Bills received bids worth 15.2 billion out of the Sh10 billion on offer, a performance rate of 152.23 per cent, with CBK accepting the entire amount.

The least attractive instrument was the 364-day Treasury Bills which received bids worth 999.59 million out of the Sh10 billion on offer, with the CBK accepting the entire amount, a 10 per cent. undersubscription.

Investors reaper an interest rate of 6.599%, 7.104% and 7.420% for the 91 day, 182-day and 364-day Treasury Bills.

This is compared to 6.527%, 7.117% and 7.418% for the respective instruments at the previous auction.