Kenya Bond Market Update: 22 November 2023

Published on
November 22, 2023
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Hump Day


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 16.25 15.75 0.00
2Yr 17.70 17.50 0.05
5yr 18.00 17.60 -0.10
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 15.75 15.50 2.00
IFB1/2016/9 (IFB10) May-25 15.85 15.75 2.00
IFB1/2015/12 (IFB8) Mar-27 14.50 14.00 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 15.50 15.00 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 14.75 14.50 0.00
IFB1/2020/6 (IFB19) May-26 13.50 12.75 0.00
IFB1/2020/11 (IFB20) Aug-31 15.50 15.00 0.00
IFB1/2021/16 (IFB21) Jan-37 16.00 15.50 0.00
IFB1/2021/18 (IFB22) Mar-39 16.00 15.50 0.00
IFB1/2021/21 (IFB23) Aug-42 16.50 16.00 0.00
IFB1/2022/19 (IFB24) Jan-41 16.50 15.50 0.00
IFB1/2022/18 (IFB25) May-40 16.50 15.50 0.00
IFB1/2022/14 (IFB26) Oct-36 16.50 15.50 0.00
IFB1/2022/6 (IFB27) Nov-28 13.70 13.30 0.00
IFB1/2023/17 (IFB28) Feb-40 16.50 15.50 0.00
IFB1/2023/7 (IFB29) Jun-30 16.20 15.90 0.00
IFB1/2023/6.5 (IFB30) May-30 17.90 17.80 0.15
 
Key  Interest Rates   Mov (bps)
O/N Interbank 11.1203% -5.63
91 Day T-bill 15.3632% 7.65
182 Day T-bill 15.4281% 2.24
364 Day T-bill 15.6385% 2.34
Central Bank Rate (CBR) 10.50% 0.00
Inflation 6.90% 10.00
 
Attached are the bond positions available today and the IFB1/2023/6.5Yr Tap Sale Prospectus.
 
Bond Positions
IFB1/2023/6.5Yr Tap Sale Prospectus
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