The Central Bank of Kenya (CBK) recorded strong investor demand in its latest three-year buyback Treasury Bond, FXD1/2023/003, with a performance rate of 114.32% against the offer of KSh 34.29 billion.
According to results released on 17 November 2025, CBK received bids worth KSh 39.21 billion at cost, signaling sustained appetite for government securities despite a tight liquidity environment. Ultimately, the Bank accepted KSh 20.08 billion, comprising KSh 17.66 billion in competitive bids and KSh 2.41 billion in non-competitive bids. The auction registered a 1.71 bid-to-cover ratio, highlighting strong interest relative to the available allocation.
Pricing and Yield Indicators
- Market Weighted Average Rate: 7.7806%
- Weighted Average Rate of Accepted Bids: 7.8019%
- Price per KSh 100 at Average Yield: 103.2877
- Coupon Rate: 14.2280%
- Maturity Date: 11 May 2026
The FXD1/2023/003 issue, with ISIN KE8000005762, is part of CBK’s ongoing buyback programme aimed at improving debt management efficiency, smoothing the maturity profile, and supporting liquidity in the secondary market.
Upcoming December Treasury Bond Issues
CBK also announced that it will issue additional Treasury Bonds in December 2025. Details on the tenors, amounts, coupon rates, and full terms will be released in the forthcoming prospectus.
