- The Central Bank of Kenya (CBK) has reopened two fixed coupon Treasury bonds, FXD1/2012/020 and FXD1/2022/015
- Treasury bond sale will run from October 23 to November 5, 2025, with settlement set for November 10, 2025, through the CBK DhowCSD Investor Portal
- Proceeds from the issuance will be used for budgetary support as the government continues to rely on domestic borrowing amid limited external financing
Elijah Ntongai, an editor at TUKO.co.ke, has over four years of financial, business, and technology research and reporting experience, providing insights into Kenyan, African, and global trends.
The Central Bank of Kenya (CBK) has announced the reopening of two fixed coupon Treasury bonds.
Source: Twitter
The government is targeting to raise KSh 40 billion from the domestic market to support the government’s budgetary needs.
Which Treasury bonds are open?
According to the prospectus released by the CBK, the FXD1/2012/020 and FXD1/2022/015 bonds have been reopened.
The two have remaining maturities of 7.0 and 11.4 years, respectively, with coupon rates of 12.000% and 13.942%.
When is the Treasury bonds sale?
According to the CBK prospectus, the sale runs from October 23 to November 5, 2025, with the auction closing at 10:00 am on the final day.
Successful bidders will be required to settle payments on November 10, 2025, through the DhowCSD Investor Portal or app.
“All successful bidders should obtain the payment key and amount payable from the CBK DhowCSD Investor Portal/App under the transactions tab on Friday, November 7, 2025, for FXD1/2012/020 and FXD1/2022/015,” CBK explained.
The reopened issues will attract a 10% withholding tax, and the minimum investment is set at KSh 50,000 for non-competitive bids and KSh 2 million for competitive ones.
CBK explained that secondary trading will commence on November 10, 2025, in multiples of KSh 50,000.
Source: Twitter
CBK has maintained that the proceeds from the bond issuance will go towards budgetary support.
Investors seeking liquidity before maturity will be able to rediscount the bonds at 3% above prevailing market yields or coupon rates.
The move reflects the government’s continued reliance on the domestic debt market amid constrained external financing options.
How much is Kenya’s debt?
Earlier on TUKO.co.ke, Kenya’s public debt has surged by over KSh 1 trillion in just eight months.
The debt levels have reached a historic high of KSh 11.97 trillion, according to new data released by the National Treasury.
Treasury Cabinet Secretary John Mbadi revealed that domestic loans accounted for the largest share of borrowing, reflecting the government’s increased reliance on the local market.
Between January and August 2025, domestic debt rose by KSh 697.4 billion, while external debt increased by KSh 346.3 billion, bringing the total debt stock to the equivalent of USD 92.61 billion, about 67.4% of GDP.
In the most recent Eurobond issuance, Kenya raised USD 1.5 billion (KSh 194.25 billion) from foreign investors, and used part of the proceeds to repay USD 1 billion (KSh 129.5 billion) of the 2028 Eurobond ahead of schedule.
Source: TUKO.co.ke