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Treasury Bills and Bonds
holycow
#1501 Posted : Monday, September 06, 2021 7:07:58 PM
Rank: Veteran


Joined: 11/11/2006
Posts: 967
Location: Home
maka wrote:
Christmas comes early.... Longest IFB ... Please please if you have a CBK acc please purchase this... It will be good for secondary trading.





How do you handle secondary trading? So far, i've been doing 5 years max and holding till maturity.
Queen
#1502 Posted : Tuesday, September 07, 2021 3:30:31 PM
Rank: Member


Joined: 11/21/2018
Posts: 488
Location: Britain
maka wrote:
Tokyo wrote:
AndyC wrote:
sparkly wrote:
Sufficiently Philanga....thropic wrote:
pops wrote:
Anyone can guide me how to settle for a T-bill bid. I have been allocated T-bills, but do not know how to pay for them.
Any guidance would be appreciated as Monday is the deadline.


Go to your bank armed with the T/Bill Issue number, CDS account no., amount payable(you can call CBK for this and ask for National Debt Department)
Your bank will process the RTGS on your behalf, in favour of CBK. You need to go there early enough before cut-off.


Very helpful.


How does one send in an application for bonds online?


Do you have a CBK CDS account and in Diaspora ,? Download application form from CBK website,fill it and email to NDO@centralbank.go.ke.


Please make sure you have an efficient bank to process the payment if you are successful with your bid or you will have to do a proper explanation as to why you weren't able to pay on time... A few hours to go... Throw in your applications.


Done. Now waiting for the auction results. Somebody mentioned earlier on that you can apply for the bond by your bedside and I initially thought this was a joke. Indeed it is true one can take advantage of technology and do exactly that.
Kudos @Pesanane.
maka
#1503 Posted : Tuesday, September 07, 2021 7:26:38 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,495
Location: Nairobi
holycow wrote:
maka wrote:
Christmas comes early.... Longest IFB ... Please please if you have a CBK acc please purchase this... It will be good for secondary trading.





How do you handle secondary trading? So far, i've been doing 5 years max and holding till maturity.


Ummh I just trade...🙂 Anyway once I want to offload anything I pass it to my broker who relays it to the market if we get a matching bid or anywhere slightly near ... They trade....

You have to make your CDS ready for secondary trading by filling an ATS registration.... This is taken to CBK by the broker you appoint ... You can appoint up to 5 different brokers and these are the ones who will always trade for you ... For selling you also have to fill some green sale order forms from CBK and draft a cover letter for the same....

possunt quia posse videntur
Queen
#1504 Posted : Wednesday, September 08, 2021 5:19:40 PM
Rank: Member


Joined: 11/21/2018
Posts: 488
Location: Britain
maka wrote:
Queen wrote:
maka wrote:
Christmas comes early.... Longest IFB ... Please please if you have a CBK acc please purchase this... It will be good for secondary trading.

https://www.centralbank....0DATED%2013-09-2021.pdf







Thanks Maka for your thumps-up on this IFB. What is your prediction on the market determined coupon rate?


Upwards of 12.50% - 12.70%

Too much liquidity in the market. This will be oversubscribed like crazy... There has been a huge upsurge of uncompetitive bids during primary auctions this will play a big part on how the competitive bids will eventually be cast... Most guys will prefer not to be too aggressive so that you don't miss out.

They might squeeze auction bid rates take a smaller amount than the 75 Bn then do a tap sale.... If this happens the drop in rates for the other IFBs will massively shift downwards...


Auction results are out. It has come in at 12.737%.
Not bad at all. Once again thanks alot @Maka. Many blessings.
maka
#1505 Posted : Wednesday, September 08, 2021 8:02:50 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,495
Location: Nairobi
Queen wrote:
maka wrote:
Queen wrote:
maka wrote:
Christmas comes early.... Longest IFB ... Please please if you have a CBK acc please purchase this... It will be good for secondary trading.

https://www.centralbank....0DATED%2013-09-2021.pdf







Thanks Maka for your thumps-up on this IFB. What is your prediction on the market determined coupon rate?


Upwards of 12.50% - 12.70%

Too much liquidity in the market. This will be oversubscribed like crazy... There has been a huge upsurge of uncompetitive bids during primary auctions this will play a big part on how the competitive bids will eventually be cast... Most guys will prefer not to be too aggressive so that you don't miss out.

They might squeeze auction bid rates take a smaller amount than the 75 Bn then do a tap sale.... If this happens the drop in rates for the other IFBs will massively shift downwards...


Auction results are out. It has come in at 12.737%.
Not bad at all. Once again thanks alot @Maka. Many blessings.


Karibu @ Queen....

possunt quia posse videntur
Tokyo
#1506 Posted : Thursday, September 09, 2021 6:40:32 AM
Rank: Veteran


Joined: 10/9/2006
Posts: 1,496
Keeping my fingers crossed while waiting for the email.
work to prosper
deadpoet
#1507 Posted : Thursday, September 09, 2021 8:55:48 AM
Rank: Member


Joined: 9/27/2006
Posts: 471
They should have done an m-akiba type of offer.
maka
#1508 Posted : Thursday, September 09, 2021 10:02:30 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,495
Location: Nairobi
Tokyo wrote:
Keeping my fingers crossed while waiting for the email.



If you went in at average you will definitely get it...

CENTRAL BANK OF KENYA - MONETARY OPERATIONS & DEBT MANAGEMENT DEPARTMENT

Successful - Bonds Bidders Report

Average Rate :12.737%

Tenor :21

Issue No :000002-717

COUPON: 12.737%

Dated :13 SEP 2021

Due Date :18 AUG 2042

This email? 🙂🙂😇
possunt quia posse videntur
Tokyo
#1509 Posted : Thursday, September 09, 2021 3:55:18 PM
Rank: Veteran


Joined: 10/9/2006
Posts: 1,496
@Maka. I went for average. They promised to send email today if successful. Still waiting..
work to prosper
maka
#1510 Posted : Thursday, September 09, 2021 5:19:47 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,495
Location: Nairobi
Tokyo wrote:
@Maka. I went for average. They promised to send email today if successful. Still waiting..


Send an email to :

primaryissues@centralbank.go.ke

Ask them for your bond bidders report for this auction

Quote your CDS no...
possunt quia posse videntur
Tokyo
#1511 Posted : Friday, September 10, 2021 5:33:04 PM
Rank: Veteran


Joined: 10/9/2006
Posts: 1,496
maka wrote:
Tokyo wrote:
@Maka. I went for average. They promised to send email today if successful. Still waiting..


Send an email to :

primaryissues@centralbank.go.ke

Ask them for your bond bidders report for this auction

Quote your CDS no...


I emailed them. They emailed me back details of my successful bidding. Asante Sana @Maka. Your are very resourceful
work to prosper
maka
#1512 Posted : Friday, September 10, 2021 8:59:54 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,495
Location: Nairobi
Tokyo wrote:
maka wrote:
Tokyo wrote:
@Maka. I went for average. They promised to send email today if successful. Still waiting..


Send an email to :

primaryissues@centralbank.go.ke

Ask them for your bond bidders report for this auction

Quote your CDS no...


I emailed them. They emailed me back details of my successful bidding. Asante Sana @Maka. Your are very resourceful



Perfect... Karibu sana.

Seems cutoff for this paper was 12.84% any higher unaionea kwa Viusasa.

possunt quia posse videntur
Tokyo
#1513 Posted : Saturday, September 11, 2021 1:27:54 AM
Rank: Veteran


Joined: 10/9/2006
Posts: 1,496
Now the challenge is how to pay through internet banking.
work to prosper
maka
#1514 Posted : Saturday, September 11, 2021 6:34:18 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,495
Location: Nairobi
Tokyo wrote:
Now the challenge is how to pay through internet banking.


Investors may instruct their commercial
banks to remit payments on their behalf
via RTGS indicating the following account
holder’s details; account name, account
number, issue number, reference
number and amount payable. Any funds,
which cannot be applied due to wrongly
completed SWIFT messages, will be
refunded to the bidder by the Central Bank
of Kenya after reconciliation.

It is just like a normal RTGS...

Receiving bank is CBK

Receiving account no is your virtual account no at CBK.

On the narration bit. Add your CDS acc no, Application no/ Ref no, Issue no.

Amount to be paid is exactly what is in your bond bidders report furthest right.


possunt quia posse videntur
Queen
#1515 Posted : Saturday, September 11, 2021 2:44:08 PM
Rank: Member


Joined: 11/21/2018
Posts: 488
Location: Britain
maka wrote:
Tokyo wrote:
maka wrote:
Tokyo wrote:
@Maka. I went for average. They promised to send email today if successful. Still waiting..


Send an email to :

primaryissues@centralbank.go.ke

Ask them for your bond bidders report for this auction

Quote your CDS no...


I emailed them. They emailed me back details of my successful bidding. Asante Sana @Maka. Your are very resourceful



Perfect... Karibu sana.

Seems cutoff for this paper was 12.84% any higher unaionea kwa Viusasa.



@Maka, does this bidder's report imply that some people bought the Bond at a discounted price? My bid amount and the amount payable are the same.
maka
#1516 Posted : Saturday, September 11, 2021 6:58:18 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,495
Location: Nairobi
maka wrote:
Tokyo wrote:
Now the challenge is how to pay through internet banking.


Investors may instruct their commercial
banks to remit payments on their behalf
via RTGS indicating the following account
holder’s details; account name, account
number, issue number, reference
number and amount payable. Any funds,
which cannot be applied due to wrongly
completed SWIFT messages, will be
refunded to the bidder by the Central Bank
of Kenya after reconciliation.

It is just like a normal RTGS...

Receiving bank is CBK

Receiving account no is your virtual account no at CBK.

On the narration bit. Add your CDS acc no, Application no/ Ref no, Issue no.

Amount to be paid is exactly what is in your bond bidders report furthest right.




Yes... Remember you can always bid... (for amounts above 20 Mn you HAVE to place a bid)... Hence why 45Billion was thrown by the auction management committee... Went in too high.
possunt quia posse videntur
Tokyo
#1517 Posted : Tuesday, September 14, 2021 10:04:24 AM
Rank: Veteran


Joined: 10/9/2006
Posts: 1,496
maka wrote:
Tokyo wrote:
Now the challenge is how to pay through internet banking.


Investors may instruct their commercial
banks to remit payments on their behalf
via RTGS indicating the following account
holder’s details; account name, account
number, issue number, reference
number and amount payable. Any funds,
which cannot be applied due to wrongly
completed SWIFT messages, will be
refunded to the bidder by the Central Bank
of Kenya after reconciliation.

It is just like a normal RTGS...

Receiving bank is CBK

Receiving account no is your virtual account no at CBK.

On the narration bit. Add your CDS acc no, Application no/ Ref no, Issue no.

Amount to be paid is exactly what is in your bond bidders report furthest right.




Thanks. At least I paid on time. RTGS was not possible due to Max amount. My bank though remitted for me
work to prosper
maka
#1518 Posted : Tuesday, September 14, 2021 1:10:16 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,495
Location: Nairobi
Tokyo wrote:
maka wrote:
Tokyo wrote:
Now the challenge is how to pay through internet banking.


Investors may instruct their commercial
banks to remit payments on their behalf
via RTGS indicating the following account
holder’s details; account name, account
number, issue number, reference
number and amount payable. Any funds,
which cannot be applied due to wrongly
completed SWIFT messages, will be
refunded to the bidder by the Central Bank
of Kenya after reconciliation.

It is just like a normal RTGS...

Receiving bank is CBK

Receiving account no is your virtual account no at CBK.

On the narration bit. Add your CDS acc no, Application no/ Ref no, Issue no.

Amount to be paid is exactly what is in your bond bidders report furthest right.




Thanks. At least I paid on time. RTGS was not possible due to Max amount. My bank though remitted for me


Perfect...
possunt quia posse videntur
MatataMingi
#1519 Posted : Tuesday, September 14, 2021 3:46:36 PM
Rank: Member


Joined: 11/17/2009
Posts: 368
Location: Where everyone knows you
In other news, Tbill rates are creeping upwards.
I am 75 year old veteran of CBK investing, having first started about 40 years ago.
At my age, I cannot invest in these 21 year bonds.
I am waiting for 2 to 5 year bonds, but these are very rare nowadays.
CBK should consider these shorter term bonds. A lot of people like myself would move from Tbills to these bonds, thus helping CBK to spread their borrowing to more than 91/182/364 days.

My 2 cents
#1520 Posted : Tuesday, September 14, 2021 4:15:32 PM
Rank: Member


Joined: 6/2/2010
Posts: 692
Is there not a secondary market for the 21 year bonds? You dont have to hold to maturity.
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