February 6, 2012 / 12:47 PM / 7 years ago

Kenya to sell bonds worth $239 million in Feb

NAIROBI, Feb 6 (Reuters) - Kenya’s central bank will offer a reopened 12-year infrastructure bond and a new one-year Treasury bond worth a total 20 billion shillings ($239 million) at auction this month, traders said on Monday.

“The reason why we did an infrastructure bond is because the governor is marketing this to the diaspora. They had requested to participate in this issue. Otherwise, for this local market, we are doing the one-year paper,” Fred Mweni, chairman of the Kenya Bond Traders’ Association, told Reuters.

At the first sale of the infrastructure bond in September, the weighted average yield came in at 16.640 percent, while at the last auction of a one-year bond, the weighted average yield stood at 21.082 percent. ($1 = 83.6250 Kenyan shillings) (Reporting by George Obulutsa; Editing by David Clarke)

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