Kenya Bond Market Update: 25 April 2024

Published on
April 25, 2024
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10, Again

 
The Central Bank is bringing back the FXD1/2024/10Yr bond in a bid to lock in KES 25Bn from its re-opening. Attached is the bond prospectus for all the required details of this auction. For the day’s activities, 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 16.50 0.00
2Yr 17.50 17.00 0.00
5yr 18.00 17.60 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 15.75 15.50 0.00
IFB1/2016/9 (IFB10) May-25 15.85 15.75 0.00
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 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 17.50 17.20 0.00
IFB1/2020/6 (IFB19) May-26 17.50 17.10 0.00
IFB1/2020/11 (IFB20) Aug-31 17.50 17.20 0.00
IFB1/2021/16 (IFB21) Jan-37 16.50 16.00 0.00
IFB1/2021/18 (IFB22) Mar-39 17.00 16.50 0.00
IFB1/2021/21 (IFB23) Aug-42 17.00 16.50 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 17.50 17.20 0.00
IFB1/2023/17 (IFB28) Feb-40 16.50 16.00 0.00
IFB1/2023/7 (IFB29) Jun-30 16.90 16.20 0.00
IFB1/2023/6.5 (IFB30) May-30 17.00 16.90 0.00
IFB1/2024/8.5 (IFB31) Aug-32 17.00 16.95 0.02
 
 
Key  Interest Rates   Mov (bps)
O/N Interbank 13.8984% 3.10
91 Day T-bill 15.8029% 6.99
182 Day T-bill 16.4667% -40.17
364 Day T-bill 16.5077% -2.33
Central Bank Rate (CBR) 13.00% 0.00
Inflation 5.70% -60.00
Attached are the bond positions available today and the bond prospectus for the re-opened FXD1/2024/10Yr.
 
Bond Positions
Bond Prospectus
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