NAIROBI, Oct. 8 (Xinhua) -- Kenya has floated for sale Treasury bond worth 400 million U.S. dollars amid high uptake of government securities by investors.
The 15-year bond is for budgetary support and has a fixed coupon interest rate of 12.8 percent, the Central Bank, the issuer on behalf of the government, said Monday.
The security will be sold until Oct. 16 and its secondary trading will start at the Nairobi Securities Exchange on Oct. 23, the apex bank said.
The Treasury bond is being sold at a time when uptake of government securities is high, with Treasury bill subscriptions standing at 120 percent last week, up from 85 percent of the week before.
In its 2018-2019 budget, the government intends to borrow 2.7 billion dollars from the domestic market, down from 2.9 billion dollars in the previous fiscal year.