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Treasury has issued a 25 year bond worth Ksh50 billion. The infrastructure bond is the first of its kind to be issued in 2019. It is meant to partly fund projects in energy, transport and water sectors.
The minimum investment amount is Ksh100, 000 while the maximum investment should not exceed Ksh20 million for each CDS account. State Corporations, semi-autonomous government agencies and public universities are allowed to exceed the Ksh20 million limit.
Since the start of 2019, the market has had high liquidity which has resulted in a high demand for short term bonds. The infrastructure bond has a coupon rate of 12.2 per cent. Investors will receive interest payments every six months until the loans maturity in February 2044. It will be on sale between 1 March and 19 March.
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