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12-Year Infrastructure Bond
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mukiha
#1 Posted : Friday, September 02, 2011 10:15:04 PM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
20b worth to finance energy roads and water.

Coupon rate 12%, paid half-yearly

Openning for sale on 16th Sept

Value date 3rd Oct 2012

Redemption in three phases: 2015, 2019 and 2023

Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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For Sport
#2 Posted : Saturday, September 03, 2011 7:54:51 PM
Rank: Veteran

Joined: 12/23/2010
Posts: 1,229
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Mainat
#3 Posted : Monday, September 05, 2011 1:19:56 PM
Rank: Veteran

Joined: 11/21/2006
Posts: 1,590
Is 12% (i.e. 10.2% after tax) abit on the low side? Inflation is 16%. Average mortgage/lending is circa 15%.
Sehemu ndio nyumba
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maka
#4 Posted : Monday, September 05, 2011 1:37:13 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Mainat wrote:
Is 12% (i.e. 10.2% after tax) abit on the low side? Inflation is 16%. Average mortgage/lending is circa 15%.

It's an IFB it doesnt attract tax...
possunt quia posse videntur
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KulaRaha
#5 Posted : Monday, September 05, 2011 2:22:56 PM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
I wonder who will buy this stuff when inflation is soaring, and money markets have been in turmoil?
Business opportunities are like buses,there's always another one coming
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maka
#6 Posted : Monday, September 05, 2011 2:35:42 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
KulaRaha wrote:
I wonder who will buy this stuff when inflation is soaring, and money markets have been in turmoil?

Fund managers,NSSF etc
possunt quia posse videntur
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stocksmaster
#7 Posted : Monday, September 05, 2011 4:49:57 PM
Rank: Member

Joined: 9/26/2006
Posts: 463
Location: CENTRAL PROVINCE
Mainat wrote:
Is 12% (i.e. 10.2% after tax) abit on the low side? Inflation is 16%. Average mortgage/lending is circa 15%.


Is the 12% fixed or subject to bidding? If not fixed, then potential investors will surely quote rates higher than prevailing inflation (> 16%).

Happy Hunting.
x handle: @stocksmaster79
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Mainat
#8 Posted : Monday, September 05, 2011 5:09:51 PM
Rank: Veteran

Joined: 11/21/2006
Posts: 1,590
stocksmaster wrote:
Mainat wrote:
Is 12% (i.e. 10.2% after tax) abit on the low side? Inflation is 16%. Average mortgage/lending is circa 15%.


Is the 12% fixed or subject to bidding? If not fixed, then potential investors will surely quote rates higher than prevailing inflation (> 16%).

Happy Hunting.

Its a fixed coupon. I think Banki Kuu might be overestimating appetite at this rate...
Sehemu ndio nyumba
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amolo
#9 Posted : Monday, September 05, 2011 6:55:09 PM
Rank: Member

Joined: 1/29/2007
Posts: 70
Although coupon rate is fixed at 12% you buy at a discounted price so depending on your bid price your effective rate could be as high as 18% or more if you are lucky, then add no w/h tax! I'll bid at around 18%, so what if I don't get!
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maka
#10 Posted : Thursday, September 08, 2011 9:39:42 AM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
amolo wrote:
Although coupon rate is fixed at 12% you buy at a discounted price so depending on your bid price your effective rate could be as high as 18% or more if you are lucky, then add no w/h tax! I'll bid at around 18%, so what if I don't get!

Competitive bids have to be above 20 M thats the only time you can bid anything below you will just get at par...
possunt quia posse videntur
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