The CBK, which is the government’s fiscal agent, said it took up Sh80.9 billion out of the funds offered, leaving Sh100 billion on the table.
The high appetite for bonds is also driven by negative or low returns in other asset classes such as equities and property.
Businesses have been hit hard by the Covid-19 containment measures, and many personal loan borrowers have also suffered job losses.
Investors bid a record Sh181.8 billion in this month’s Treasury bond sale, indicating a market flush with liquidity amid a dearth of investment options.
The Central Bank of Kenya (CBK) had taken the rare step of offering the bond in three tenors of five, 10 and 15 years. It normally floats single or dual tenor papers, which meant that all the different classes of investors were catered for.
