Kenya Bond Market Update: 04 Septembert 2024

Published on

September 4, 2024

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September’s Re-openings

The Central Bank of Kenya will be re-opening both the FXD1/2024/10Yr (9.5 years) and the FXD1/2016/20Yr (12.5 years) in a bid to secure KES 30Bn. Attached is the prospectus for any additional information you may require. Away from the primary auction, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting!

Below are the two-way quotes for the benchmark tenors:

Indicative Two-Way Quotes - Benchmark Tenors
Benchmark Tenor	Bid (%)	Offer (%)	Mov (t-t0)%
1Yr	17.00	16.80	0.00
2Yr	18.00	17.50	0.00
5yr	18.50	18.00	0.00
10yr	16.50	16.00	0.00
15yr	16.50	16.00	0.00
20yr	16.50	16.00	0.00
25yr	16.50	16.00	0.00

Below are details of the two-way quotes for the infrastructure bonds and the key rates:

Indicative Two-Way Quotes - IFB Series
IFB series	Maturity	Bid (%)	Offer (%)	Mov (t-t0)%
IFB1/2017/7 (IFB13)	Nov-24	15.50	15.00	0.00
IFB1/2016/9 (IFB10)	May-25	16.00	15.00	0.00
IFB1/2015/12 (IFB8)	Mar-27	15.50	15.00	0.00
IFB1/2017/12 (IFB12)	Feb-29	16.00	15.00	0.00
IFB1/2016/15 (IFB11)	Oct-31	16.50	16.00	0.00
IFB1/2018/15 (IFB14)	Jan-33	16.50	16.00	0.00
IFB1/2018/20 (IFB15)	Oct-38	16.50	16.00	0.00
IFB1/2019/25 (IFB16)	Feb-44	16.50	16.00	0.00
IFB1/2019/16 (IFB17)	Oct-35	16.50	16.20	0.00
IFB1/2020/9 (IFB18)	Apr-29	16.50	16.00	0.00
IFB1/2020/6 (IFB19)	May-26	16.50	16.00	0.00
IFB1/2020/11 (IFB20)	Aug-31	17.00	16.00	0.00
IFB1/2021/16 (IFB21)	Jan-37	16.50	16.00	0.00
IFB1/2021/18 (IFB22)	Mar-39	16.50	16.30	0.00
IFB1/2021/21 (IFB23)	Aug-42	16.70	16.50	0.00
IFB1/2022/19 (IFB24)	Jan-41	17.30	16.00	0.00
IFB1/2022/18 (IFB25)	May-40	16.60	16.00	0.00
IFB1/2022/14 (IFB26)	Oct-36	16.60	16.00	0.00
IFB1/2022/6 (IFB27)	Nov-28	16.50	16.00	0.00
IFB1/2023/17 (IFB28)	Feb-40	17.75	17.50	0.00
IFB1/2023/7 (IFB29)	Jun-30	16.90	16.20	0.00
IFB1/2023/6.5 (IFB30)	May-30	17.70	17.55	0.03
IFB1/2024/8.5 (IFB31)	Aug-32	17.70	17.55	0.00

Key Interest Rates		Mov (bps)
O/N Interbank	12.6885%	-0.99
91 Day T-bill	15.7844%	-0.96
182 Day T-bill	16.6327%	-3.59
364 Day T-bill	16.8421%	-1.71
Central Bank Rate (CBR)	12.75%	-25.00
Inflation	4.40%	10.00

Attached are the bond positions available today and the September 2024 Bond Prospectus.

Bond Positions

September 2024 Bond Prospectus

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Kenya Bond Market Update: 04 Septembert 2024

September’s Re-openings

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