The Central Bank of Kenya has released the official results of its latest auction for reopened FXD1/2020/015 and FXD1/2018/025 treasury bonds. The first instrument, Issue No. FXD1/2020/015 carries a residual tenor of 8.9 years to its maturity date of February 5, 2035 with a coupon rate of 12.7560 percent.
The second instrument, Issue No. FXD1/2018/025, is a twenty-five-year paper with remaining tenor of 17.3 years to its maturity date of May 25, 2043. The instrument carries a higher coupon rate of 13.4000 percent. Through these two instruments, the government sought to raise KES 40 billion.
KES 50B Accepted from Bond Reopenings
The auction attracted total bids amounting to KES 74.89 billion – reflecting a performance rate of 187.23%. The total bids received at cost were split between FXD1/2020/015 and FXD1/2018/025 at KES 41.42 billion and KES 33.47 billion, translating to performance rates of 103.55% and 83.67%, respectively. Across the two re-opened instruments, the government accepted KES 50.19 billion, leaving KES 25B on the table.
Notably, the application of funds indicates a net repayment position of KES 50,189.35 million, signifying that the proceeds from these issuances were directed towards liability management, primarily covering redemptions. The auction outcomes reflect the government’s strategy to reopen long-dated instruments and lengthen the maturity profile of domestic debt in the country. As of March 2026, Kenya”s domestic debt stood at KES 7.14 trillion, with 82.9% or an absolute amount of KES 5.798 trillion held in treasury bonds.
Looking ahead, the Directorate has also provided a preliminary notice regarding forthcoming Treasury bond issuances for the month of May 2026. According to the announcement, the specific features of the upcoming bond or bonds, including the tenor, amounts, coupon rates, and detailed issue terms, will be disclosed in the official prospectus to be released prior to the issue date. Market participants are advised to await the prospectus for comprehensive details to guide their participation.
Also Read: Reopened 20, 25-Year Bonds Oversubscribed by 96% in March Bond Auction
Get The Trading Room on your feed — WhatsApp · Telegram · X · LinkedIn
