Nation | by Charles Mwaniki
The National Treasury exceeded its target from the April infrastructure bond (IFB) issue by Sh21.9 billion, pointing to increased appetite for domestic borrowing amid expanded expenditure and lower revenue collection.
Government had targeted Sh60 billion from the bond, but on getting Sh88.6 billion bids from investors, it took up Sh81.9 billion. The 18-year bond will earn investors 12.67 per cent.
“The IFB was oversubscribed as predicted due to its tax-free status and capital flight by risk-averse investors from the Nairobi Securities Exchange (NSE), with…
