Kenya Bond Market Update: 20 December 2023

Published on
December 20, 2023
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January’s goodies from the Central Bank have been announced. The Central Bank will be offering a new 3Yr Bond, FXD1/2024/3Yr, and re-opening the 5Yr Bond, FXD1/2023/5Yr, in a bid to secure KES 35Bn. Attached is the prospectus with all the required information to assist in your decision making. In the secondary space, below is a snapshot of what is at play for your consideration and to keep you updated during this festive period. 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 16.25 16.00 0.00
2Yr 18.00 17.80 0.00
5yr 18.50 18.00 0.00
10yr 17.00 16.50 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 16.00 15.50 0.00
IFB1/2016/9 (IFB10) May-25 16.00 15.75 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 16.00 15.50 0.00
IFB1/2018/15 (IFB14) Jan-33 15.50 15.00 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 15.50 15.20 0.00
IFB1/2020/9 (IFB18) Apr-29 15.00 14.50 0.00
IFB1/2020/6 (IFB19) May-26 14.50 13.75 0.00
IFB1/2020/11 (IFB20) Aug-31 15.50 15.00 0.00
IFB1/2021/16 (IFB21) Jan-37 17.00 16.00 0.00
IFB1/2021/18 (IFB22) Mar-39 17.00 16.00 0.00
IFB1/2021/21 (IFB23) Aug-42 17.00 16.00 0.00
IFB1/2022/19 (IFB24) Jan-41 17.00 16.50 0.00
IFB1/2022/18 (IFB25) May-40 17.00 16.50 0.00
IFB1/2022/14 (IFB26) Oct-36 17.00 16.50 0.00
IFB1/2022/6 (IFB27) Nov-28 17.00 16.00 0.00
IFB1/2023/17 (IFB28) Feb-40 16.50 16.00 0.00
IFB1/2023/7 (IFB29) Jun-30 16.50 16.00 0.00
IFB1/2023/6.5 (IFB30) May-30 17.75 17.65 -0.07
 
Key  Interest Rates   Mov (bps)
O/N Interbank 11.8592% 18.54
91 Day T-bill 15.7706% 13.58
182 Day T-bill 15.9219% 17.32
364 Day T-bill 15.8340% 3.93
Central Bank Rate (CBR) 12.50% 200.00
Inflation 6.80% -10.00
 
 
Attached are the bond positions available today and the January 2024 Bond Prospectus.
 
Bond Positions
January 2024 Bond Prospectus
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