, NAIROBI, Kenya, Sept 12 – The Central Bank of Kenya (CBK) has announced plans to issue a 10- year re-open Treasury Bond (Issue Number FXD1/2014/10) worth Sh15 billion which can be extended by Sh5 billion subject to the demand of the bond.
In a statement sent to newsrooms, CBK has invited bids for the bond asking investors to duly complete bond application forms and submit to any branch of the CBK by September 23, 2014 at 2pm.
The maximum amount per investor is at Sh20 million with the minimum amount at Sh50,000 at an interest of 12.18 percent.
The auction date is on Wednesday 24th September 2014, as investors obtain details of amounts payable for successful bids from CBK on the 25th of September 2014.
The bonds will be listed at the Nairobi Securities Exchange (NSE) for trading on 29th September 2014.
Licensed placing agents will be paid commission at the rate of 0.15 percent of actual sales net of 5 percent withholding tax.
Only CDS Account holders with updates mandates are eligible to apply.
Secondary trading in multiples of Sh50, 000 will commence on 30th September 2014.