The CBK offered three papers for a combined Sh24 billion. FILE PHOTO | NMG
The Treasury continues to attract huge
offers for its debt with the 91-day and 182-day bills subscribed more
than 200 per cent and 150 per cent respectively this week.
The 364-day paper saw a slighter oversubscription of 139 per cent.
The
91-day paper received bids worth Sh8 billion against an offer of Sh4
billion, while 182-day paper attracted bids worth Sh15 billion against
Sh10 billion on offer.
The 364-day paper received Sh13.9 billion worth of bids against Sh10 billion which had been offered.
In the auction, CBK had offered the three papers for a total of Sh24 billion.
“The total amount received was Sh37.7 billion and the bids accepted amounted to Sh28.6 billion,” CBK said on Thursday.
The weighted average rate of accepted bids was 8.5 per cent (91-day) and 10.3 per cent (182-day) and 10.9 per cent for 364-day.
Market analysts expect demand to remain high on the shorter dated papers.
Last
week, Treasury bills subscription remained high but declined during the
week to 141.9 per cent, compared to 172.5 per cent recorded the
previous week.
The subscription rates had declined
across the board with the 91-day, 182-day and 364-day papers receiving
subscriptions of 129.3 per cent, 150.7 per cent and 138.2 per cent
compared to 221.2 per cent, 168.2 per cent and 157.5 per cent
respectively the previous week.
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