March 9, 2020 / 8:48 AM / 25 days ago

Kenya central bank to raise 50 bln shillings with 20-, 25-year bonds

NAIROBI, March 9 (Reuters) - Kenya’s central bank will offer re-opened 20- and 25-year Treasury bonds at this month’s auction, seeking to raise a total of 50 billion shillings ($486.38 million), it said on Monday.

The bonds, which will be auctioned on March 18, come with a coupon rate of 13.20% and 13.40% for the 20- and 25-year tenors respectively, the bank said in a statement.

The bank will rediscount the bonds at 3% above the prevailing market yield or coupon rate, subject to approval by the Nairobi Securities Exchange, it said.

$1 = 102.8000 Kenyan shillings Reporting by Duncan Miriri

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