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CBK reopens KSh50bn Treasury bonds this month, inviting bids for a reopened 15-year and 30-year fixed-coupon issue until 10am on 18 November 2026. The official prospectus sets the sale period from 10 November to 18 November, with settlement on 23 November.
The Central Bank of Kenya, as fiscal agent for the Republic of Kenya, is offering a combined KSh 50 billion for budgetary support through FXD1/2019/015 and SDB1/2011/030, according to the November 2026 prospectus.
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KSh50bn Treasury bonds: the two issues
| Feature | FXD1/2019/015 | SDB1/2011/030 |
|---|---|---|
| Original tenor | 15 years (7.3 years left) | 30 years (14.3 years left) |
| ISIN | KE5000009430 | KE2000002135 |
| Coupon | 12.8570% | 12.0000% |
| Withholding tax | 10% | 10% |
| Maturity | 9 January 2034 | 21 January 2041 |
The KSh50bn Treasury bonds on offer span both papers. This is a reopening, not a new coupon: investors bid a yield in a multi-price auction, and the bonds may be reopened again later, the prospectus says. They will be listed on the Nairobi Securities Exchange.
How and when to bid
Only investors with active DhowCSD accounts may bid. Non-competitive bids run from KSh 50,000 to a maximum of KSh 50 million. Competitive bids start at KSh 2 million per CSD account per tenor. Bids close at 10.00am on 18 November 2026, which is also the auction date.
Successful bidders should collect the payment key and amount payable from the CBK DhowCSD Investor Portal or app, under the transactions tab, on Friday, 20 November 2026. Settlement is on 23 November 2026. CBK may allot in full, on a pro-rata basis, or reject bids without giving a reason.
A step-by-step walk-through of DhowCSD bidding on these KSh50bn Treasury bonds is in our guide, how to bid on the November 2026 Treasury bonds.
Tax, trading and pricing notes
Interest on both bonds is subject to 10% withholding tax. Secondary trading in multiples of KSh 50,000 starts on Monday, 23 November 2026. The prospectus also sets out accrued interest: for example, at a quoted yield equal to the coupon, FXD1/2019/015 has a dirty price of KSh 104.4077 per KSh 100, and SDB1/2011/030 a dirty price of KSh 103.4188 per KSh 100.
The bonds count toward the statutory liquidity ratio for commercial banks and non-bank financial institutions under the Banking Act. Investors can pledge them as loan collateral; a pledge not cancelled at least five days before maturity settles automatically to the lender’s account.
How this offer differs from last week’s results
These KSh50bn Treasury bonds are a separate sale from the 4 November reopening of FXD3/2019/015 and FXD1/2026/030, whose results are already on the CBK bond-results page, and from the 9 November switch into FXD4/2019/010. Readers comparing recent auctions can start with our earlier Treasury bond auction results for November 2026.
The KSh50bn Treasury bonds figures above come only from the official prospectus. Actual amounts raised will be known after the 18 November auction, when CBK publishes the results.
Frequently asked questions
When do bids close on the reopened Treasury bonds?
At 10.00am on 18 November 2026. The sale window runs from 10 November to 18 November, with settlement on 23 November.
How much is CBK seeking from the KSh50bn Treasury bonds?
KSh 50 billion in total, for budgetary support, across the reopened 15-year and 30-year bonds.
What coupons do the two bonds pay?
FXD1/2019/015 pays 12.8570% and SDB1/2011/030 pays 12.0000%, both with 10% withholding tax, according to the prospectus.
Who can bid?
Investors with active DhowCSD accounts. Non-competitive bids are KSh 50,000 to KSh 50 million; competitive bids start at KSh 2 million per CSD account per tenor.
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