Kenya to sell up to 20bn shillings of two-and 10-year bonds

NAIROBI: Kenya will auction a two-year Treasury bond and re-open an existing 10-year bond worth up to 20 billion shillings ($229 million) on Aug. 21, the Central Bank of Kenya said on Thursday.

The bank said the 10-year bond would be priced to yield 12.371 percent, while the return on the two-year paper will be determined by the market.

Kenya paid a weighted average yield of 12.940 percent at the last sale of a two-year bond in March, while the yield on the 10-year bond was 12.371 percent at auction in June.