Treasury bills subscription dropped further to average 103.75 per cent last week as most investors focused on the recently reopened 4.9 years Treasury bond.
The overall subscription rate dropped from 155.4 per cent recorded the previous week.
Subscription rate for 91-, 182-, and 364-day government papers floated by the Central Bank of Kenya (CBK) in the week came in at 82.5 per cent, 120 per cent and 95 per cent, compared to 312.5 per cent, 159 per cent and 89 per cent the previous week respectively.
“The government accepted Sh23.7 billion of the Sh24.9 billion worth of bids received against the Sh24 billion on offer in the auction,” CBK data showed.
Banks, PE funds and insurance companies opted for the reopened bond, analysts said.
Credit: Business Daily