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Kes cloud9/11/2023 ![]() ![]() Long-term bonds, which have recently been auctioned, have coupon rates exceeding 14 per cent as the government aims to raise funds to address its budget deficit. Meanwhile, the 15-year paper, which still has 10.9 years until redemption, has an interest rate of 12.857 per cent. The first auction of the short-duration bond took place last year, with a coupon rate of 11.766 per cent. The interest paid on other long-term bonds is subject to a 10 per cent tax rate for investors. The three-year bond, which has 2.1 years left until maturity, incurs a higher withholding tax rate of 15% on any interest earned. Until April 18, the CBK aims to raise KES 30 billion from the sale of both the three-year and 15-year securities. The bond will remain available for purchase until April 4th. This security, which still has 5.8 years until it reaches maturity, has an interest rate of 12.502 per cent. ![]()
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