Bloomberg News

Kenya Plans to Sell 18 Billion Shillings of Bonds, Trader Says

June 06, 2011

June 6 (Bloomberg) -- Kenya’s central bank plans to offer three Treasury bonds with two-, five- and 20-year maturities this month to raise 18 billion shillings ($207 million), said Fred Mweni, chairman of the country’s Bond Traders Association.

The offering was decided on at a meeting between central bank officials and the so-called Market Leaders Forum of securities traders on June 3, Mweni said in a phone interview today from Nairobi, the capital. Mweni, who is also managing director of Tsavo Securities Ltd., didn’t say when the auction would be held.

The five-year bonds will be a new issue, while the two- and 20-year securities are being reopened, he said.

--Editors: Paul Richardson, Ana Monteiro.

To contact the reporter on this story: Paul Richardson in Nairobi at pmrichardson@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net.


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