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Treasury Bills and Bonds
Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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I have never understood why it takes ages for CBK to upload new bond offers...Till now they still have the last bond on their website. possunt quia posse videntur
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Rank: Elder Joined: 3/2/2009 Posts: 26,325 Location: Masada
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maka wrote:I have never understood why it takes ages for CBK to upload new bond offers...Till now they still have the last bond on their website. I have been waiting for that IFB like milele. Anyone has it? Even in hardcopy, please scan and share here. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 3/2/2009 Posts: 26,325 Location: Masada
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Impunity wrote:maka wrote:I have never understood why it takes ages for CBK to upload new bond offers...Till now they still have the last bond on their website. I have been waiting for that IFB like milele. Anyone has it? Even in hardcopy, please scan and share here. Seen the offer, thanks.  Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Member Joined: 1/3/2014 Posts: 257
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Impunity wrote:maka wrote:I have never understood why it takes ages for CBK to upload new bond offers...Till now they still have the last bond on their website. I have been waiting for that IFB like milele. Anyone has it? Even in hardcopy, please scan and share here. You can download the pdf directly from their website. Link: https://www.centralbank....%20YR-%20Prospectus.pdf
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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snipermnoma wrote:maka wrote:Impunity wrote:maka wrote:Impunity wrote:maka wrote:Impunity wrote:maka wrote:snipermnoma wrote:Impunity wrote:maka wrote:IFB 1.2016.15....@12% ...October issue. By 2016/15 you mean ndiu ndate is 15th? Have not seen the prospectus but the 1.2016.15 would mean it is the first IFB of 2016 and it is a 15 year tenor. Correct wish it was 15%...that's a contact income for 15 years. Slight discount will be available... Please share the prospectus here. Thanks. When it's released....bado haijatoka I have some maturing papers around 17-Oct, I hope this auction will be around end of the month! I'm  You are very safe... @maka if this happens it will be welcome. However it would be the 2nd IFB. If I remember correctly, there was another in May for 9 years. Right...  possunt quia posse videntur
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Rank: Member Joined: 1/3/2014 Posts: 257
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maka wrote:snipermnoma wrote:maka wrote:Impunity wrote:maka wrote:Impunity wrote:maka wrote:Impunity wrote:maka wrote:snipermnoma wrote:Impunity wrote:maka wrote:IFB 1.2016.15....@12% ...October issue. By 2016/15 you mean ndiu ndate is 15th? Have not seen the prospectus but the 1.2016.15 would mean it is the first IFB of 2016 and it is a 15 year tenor. Correct wish it was 15%...that's a contact income for 15 years. Slight discount will be available... Please share the prospectus here. Thanks. When it's released....bado haijatoka I have some maturing papers around 17-Oct, I hope this auction will be around end of the month! I'm You are very safe... @maka if this happens it will be welcome. However it would be the 2nd IFB. If I remember correctly, there was another in May for 9 years. Right... Let us hope there will be a discount to improve the yield. However, I expect this one to be massively subscribed since banks and pension funds have few better options right now. Anyway, we will see.
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Rank: Elder Joined: 3/2/2009 Posts: 26,325 Location: Masada
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snipermnoma wrote:maka wrote:snipermnoma wrote:maka wrote:Impunity wrote:maka wrote:Impunity wrote:maka wrote:Impunity wrote:maka wrote:snipermnoma wrote:Impunity wrote:maka wrote:IFB 1.2016.15....@12% ...October issue. By 2016/15 you mean ndiu ndate is 15th? Have not seen the prospectus but the 1.2016.15 would mean it is the first IFB of 2016 and it is a 15 year tenor. Correct wish it was 15%...that's a contact income for 15 years. Slight discount will be available... Please share the prospectus here. Thanks. When it's released....bado haijatoka I have some maturing papers around 17-Oct, I hope this auction will be around end of the month! I'm You are very safe... @maka if this happens it will be welcome. However it would be the 2nd IFB. If I remember correctly, there was another in May for 9 years. Right... Let us hope there will be a discount to improve the yield. However, I expect this one to be massively subscribed since banks and pension funds have few better options right now. Anyway, we will see. Holding say 5M at CBK for 15 years seems crazy, so I think I would be able to dispose it sooner when I have a better deal outta here? @maka? I have never sold IFB, please confirm its easier to sell them as compared to Other Bonds? Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 12/7/2012 Posts: 11,901
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Impunity wrote:snipermnoma wrote:maka wrote:snipermnoma wrote:maka wrote:Impunity wrote:maka wrote:Impunity wrote:maka wrote:Impunity wrote:maka wrote:snipermnoma wrote:Impunity wrote:maka wrote:IFB 1.2016.15....@12% ...October issue. By 2016/15 you mean ndiu ndate is 15th? Have not seen the prospectus but the 1.2016.15 would mean it is the first IFB of 2016 and it is a 15 year tenor. Correct wish it was 15%...that's a contact income for 15 years. Slight discount will be available... Please share the prospectus here. Thanks. When it's released....bado haijatoka I have some maturing papers around 17-Oct, I hope this auction will be around end of the month! I'm You are very safe... @maka if this happens it will be welcome. However it would be the 2nd IFB. If I remember correctly, there was another in May for 9 years. Right... Let us hope there will be a discount to improve the yield. However, I expect this one to be massively subscribed since banks and pension funds have few better options right now. Anyway, we will see. Holding say 5M at CBK for 15 years seems crazy, so I think I would be able to dispose it sooner when I have a better deal outta here? @maka? I have never sold IFB, please confirm its easier to sell them as compared to Other Bonds? I thought so, unless of course those big liquid pension funds, insurance etc In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Member Joined: 4/21/2015 Posts: 151
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Redemption begins after 5 years which is 2021.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Angelica _ann wrote:Impunity wrote:snipermnoma wrote:maka wrote:snipermnoma wrote:maka wrote:Impunity wrote:maka wrote:Impunity wrote:maka wrote:Impunity wrote:maka wrote:snipermnoma wrote:Impunity wrote:maka wrote:IFB 1.2016.15....@12% ...October issue. By 2016/15 you mean ndiu ndate is 15th? Have not seen the prospectus but the 1.2016.15 would mean it is the first IFB of 2016 and it is a 15 year tenor. Correct wish it was 15%...that's a contact income for 15 years. Slight discount will be available... Please share the prospectus here. Thanks. When it's released....bado haijatoka I have some maturing papers around 17-Oct, I hope this auction will be around end of the month! I'm You are very safe... @maka if this happens it will be welcome. However it would be the 2nd IFB. If I remember correctly, there was another in May for 9 years. Right... Let us hope there will be a discount to improve the yield. However, I expect this one to be massively subscribed since banks and pension funds have few better options right now. Anyway, we will see. Holding say 5M at CBK for 15 years seems crazy, so I think I would be able to dispose it sooner when I have a better deal outta here? @maka? I have never sold IFB, please confirm its easier to sell them as compared to Other Bonds? I thought so, unless of course those big liquid pension funds, insurance etc IFBs are easier to sell.... possunt quia posse videntur
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Rank: Elder Joined: 3/2/2009 Posts: 26,325 Location: Masada
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maka wrote:Angelica _ann wrote:Impunity wrote:snipermnoma wrote:maka wrote:snipermnoma wrote:maka wrote:Impunity wrote:maka wrote:Impunity wrote:maka wrote:Impunity wrote:maka wrote:snipermnoma wrote:Impunity wrote:maka wrote:IFB 1.2016.15....@12% ...October issue. By 2016/15 you mean ndiu ndate is 15th? Have not seen the prospectus but the 1.2016.15 would mean it is the first IFB of 2016 and it is a 15 year tenor. Correct wish it was 15%...that's a contact income for 15 years. Slight discount will be available... Please share the prospectus here. Thanks. When it's released....bado haijatoka I have some maturing papers around 17-Oct, I hope this auction will be around end of the month! I'm You are very safe... @maka if this happens it will be welcome. However it would be the 2nd IFB. If I remember correctly, there was another in May for 9 years. Right... Let us hope there will be a discount to improve the yield. However, I expect this one to be massively subscribed since banks and pension funds have few better options right now. Anyway, we will see. Holding say 5M at CBK for 15 years seems crazy, so I think I would be able to dispose it sooner when I have a better deal outta here? @maka? I have never sold IFB, please confirm its easier to sell them as compared to Other Bonds? I thought so, unless of course those big liquid pension funds, insurance etc IFBs are easier to sell.... Can I sell it all before the 5 year redemption period? If I put in 5M, and want out completely 2 years later, is it possible. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Impunity wrote:maka wrote:Angelica _ann wrote:Impunity wrote:snipermnoma wrote:maka wrote:snipermnoma wrote:maka wrote:Impunity wrote:maka wrote:Impunity wrote:maka wrote:Impunity wrote:maka wrote:snipermnoma wrote:Impunity wrote:maka wrote:IFB 1.2016.15....@12% ...October issue. By 2016/15 you mean ndiu ndate is 15th? Have not seen the prospectus but the 1.2016.15 would mean it is the first IFB of 2016 and it is a 15 year tenor. Correct wish it was 15%...that's a contact income for 15 years. Slight discount will be available... Please share the prospectus here. Thanks. When it's released....bado haijatoka I have some maturing papers around 17-Oct, I hope this auction will be around end of the month! I'm You are very safe... @maka if this happens it will be welcome. However it would be the 2nd IFB. If I remember correctly, there was another in May for 9 years. Right... Let us hope there will be a discount to improve the yield. However, I expect this one to be massively subscribed since banks and pension funds have few better options right now. Anyway, we will see. Holding say 5M at CBK for 15 years seems crazy, so I think I would be able to dispose it sooner when I have a better deal outta here? @maka? I have never sold IFB, please confirm its easier to sell them as compared to Other Bonds? I thought so, unless of course those big liquid pension funds, insurance etc IFBs are easier to sell.... Can I sell it all before the 5 year redemption period? If I put in 5M, and want out completely 2 years later, is it possible. Even a few months after auction....wekelea possunt quia posse videntur
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Rank: Member Joined: 4/21/2015 Posts: 151
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maka wrote:Impunity wrote:maka wrote:Angelica _ann wrote:Impunity wrote:snipermnoma wrote:maka wrote:snipermnoma wrote:maka wrote:Impunity wrote:maka wrote:Impunity wrote:maka wrote:Impunity wrote:maka wrote:snipermnoma wrote:Impunity wrote:maka wrote:IFB 1.2016.15....@12% ...October issue. By 2016/15 you mean ndiu ndate is 15th? Have not seen the prospectus but the 1.2016.15 would mean it is the first IFB of 2016 and it is a 15 year tenor. Correct wish it was 15%...that's a contact income for 15 years. Slight discount will be available... Please share the prospectus here. Thanks. When it's released....bado haijatoka I have some maturing papers around 17-Oct, I hope this auction will be around end of the month! I'm You are very safe... @maka if this happens it will be welcome. However it would be the 2nd IFB. If I remember correctly, there was another in May for 9 years. Right... Let us hope there will be a discount to improve the yield. However, I expect this one to be massively subscribed since banks and pension funds have few better options right now. Anyway, we will see. Holding say 5M at CBK for 15 years seems crazy, so I think I would be able to dispose it sooner when I have a better deal outta here? @maka? I have never sold IFB, please confirm its easier to sell them as compared to Other Bonds? I thought so, unless of course those big liquid pension funds, insurance etc IFBs are easier to sell.... Can I sell it all before the 5 year redemption period? If I put in 5M, and want out completely 2 years later, is it possible. Even a few months after auction....wekelea Secondary trading in multiples of 50k to begin on 25 October 2016
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Rank: Elder Joined: 3/2/2009 Posts: 26,325 Location: Masada
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@maka, What does this mean? Quote:No partial redemption will be paid on encumbered
securities on armotization dates.Any amount upto
Kshs. 1.0 million per CDS account at armotization will
be redeemed in full except for encumbered securities
Does it mean if I dont get out soonet I am still able to get out completely on the 5th year with my full principal? Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 3/2/2009 Posts: 26,325 Location: Masada
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maka wrote:Impunity wrote:maka wrote:Angelica _ann wrote:Impunity wrote:snipermnoma wrote:maka wrote:snipermnoma wrote:maka wrote:Impunity wrote:maka wrote:Impunity wrote:maka wrote:Impunity wrote:maka wrote:snipermnoma wrote:Impunity wrote:maka wrote:IFB 1.2016.15....@12% ...October issue. By 2016/15 you mean ndiu ndate is 15th? Have not seen the prospectus but the 1.2016.15 would mean it is the first IFB of 2016 and it is a 15 year tenor. Correct wish it was 15%...that's a contact income for 15 years. Slight discount will be available... Please share the prospectus here. Thanks. When it's released....bado haijatoka I have some maturing papers around 17-Oct, I hope this auction will be around end of the month! I'm You are very safe... @maka if this happens it will be welcome. However it would be the 2nd IFB. If I remember correctly, there was another in May for 9 years. Right... Let us hope there will be a discount to improve the yield. However, I expect this one to be massively subscribed since banks and pension funds have few better options right now. Anyway, we will see. Holding say 5M at CBK for 15 years seems crazy, so I think I would be able to dispose it sooner when I have a better deal outta here? @maka? I have never sold IFB, please confirm its easier to sell them as compared to Other Bonds? I thought so, unless of course those big liquid pension funds, insurance etc IFBs are easier to sell.... Can I sell it all before the 5 year redemption period? If I put in 5M, and want out completely 2 years later, is it possible. Even a few months after auction....wekelea @maka, If I chicken out say 3 months after the auction, what are the likekly haircuts, if ANY? Will it be automatic that I sell my IFB at the same rate I bought it, i.e 12%? Will the new niggar remit my Kes. 5M and start enjoying the 12% inetrest on the date of our settlemet? Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Member Joined: 1/3/2014 Posts: 257
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Impunity wrote:maka wrote:Impunity wrote:maka wrote:Angelica _ann wrote:Impunity wrote:snipermnoma wrote:maka wrote:snipermnoma wrote:maka wrote:Impunity wrote:maka wrote:Impunity wrote:maka wrote:Impunity wrote:maka wrote:snipermnoma wrote:Impunity wrote:maka wrote:IFB 1.2016.15....@12% ...October issue. By 2016/15 you mean ndiu ndate is 15th? Have not seen the prospectus but the 1.2016.15 would mean it is the first IFB of 2016 and it is a 15 year tenor. Correct wish it was 15%...that's a contact income for 15 years. Slight discount will be available... Please share the prospectus here. Thanks. When it's released....bado haijatoka I have some maturing papers around 17-Oct, I hope this auction will be around end of the month! I'm You are very safe... @maka if this happens it will be welcome. However it would be the 2nd IFB. If I remember correctly, there was another in May for 9 years. Right... Let us hope there will be a discount to improve the yield. However, I expect this one to be massively subscribed since banks and pension funds have few better options right now. Anyway, we will see. Holding say 5M at CBK for 15 years seems crazy, so I think I would be able to dispose it sooner when I have a better deal outta here? @maka? I have never sold IFB, please confirm its easier to sell them as compared to Other Bonds? I thought so, unless of course those big liquid pension funds, insurance etc IFBs are easier to sell.... Can I sell it all before the 5 year redemption period? If I put in 5M, and want out completely 2 years later, is it possible. Even a few months after auction....wekelea @maka, If I chicken out say 3 months after the auction, what are the likekly haircuts, if ANY? Will it be automatic that I sell my IFB at the same rate I bought it, i.e 12%? Will the new niggar remit my Kes. 5M and start enjoying the 12% inetrest on the date of our settlemet? Like @andyc said in post 233: Secondary trading in multiples of 50k to begin on 25 October 2016. The secondary market is basically willing seller willing buyer, almost like when you have a particular stock you want to sell. Only that the price for bonds is mainly determined by the yield to maturity. The person who buys the bond from you will enjoy the interest payments at coupon rate going forward since they will own the bond. A good analogy is dividend. Once you sell the stock the buyer gets paid dividends going forward. In the same way once you sell a bond the interest payments at the coupon rate.
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Rank: Elder Joined: 3/2/2009 Posts: 26,325 Location: Masada
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snipermnoma wrote:Impunity wrote:maka wrote:Impunity wrote:maka wrote:Angelica _ann wrote:Impunity wrote:snipermnoma wrote:maka wrote:snipermnoma wrote:maka wrote:Impunity wrote:maka wrote:Impunity wrote:maka wrote:Impunity wrote:maka wrote:snipermnoma wrote:Impunity wrote:maka wrote:IFB 1.2016.15....@12% ...October issue. By 2016/15 you mean ndiu ndate is 15th? Have not seen the prospectus but the 1.2016.15 would mean it is the first IFB of 2016 and it is a 15 year tenor. Correct wish it was 15%...that's a contact income for 15 years. Slight discount will be available... Please share the prospectus here. Thanks. When it's released....bado haijatoka I have some maturing papers around 17-Oct, I hope this auction will be around end of the month! I'm You are very safe... @maka if this happens it will be welcome. However it would be the 2nd IFB. If I remember correctly, there was another in May for 9 years. Right... Let us hope there will be a discount to improve the yield. However, I expect this one to be massively subscribed since banks and pension funds have few better options right now. Anyway, we will see. Holding say 5M at CBK for 15 years seems crazy, so I think I would be able to dispose it sooner when I have a better deal outta here? @maka? I have never sold IFB, please confirm its easier to sell them as compared to Other Bonds? I thought so, unless of course those big liquid pension funds, insurance etc IFBs are easier to sell.... Can I sell it all before the 5 year redemption period? If I put in 5M, and want out completely 2 years later, is it possible. Even a few months after auction....wekelea @maka, If I chicken out say 3 months after the auction, what are the likekly haircuts, if ANY? Will it be automatic that I sell my IFB at the same rate I bought it, i.e 12%? Will the new niggar remit my Kes. 5M and start enjoying the 12% inetrest on the date of our settlemet? Like @andyc said in post 233: Secondary trading in multiples of 50k to begin on 25 October 2016. The secondary market is basically willing seller willing buyer, almost like when you have a particular stock you want to sell. Only that the price for bonds is mainly determined by the yield to maturity. The person who buys the bond from you will enjoy the interest payments at coupon rate going forward since they will own the bond. A good analogy is dividend. Once you sell the stock the buyer gets paid dividends going forward. In the same way once you sell a bond the interest payments at the coupon rate. If I have say 5M in there and divided with 50K that will be 100 units...so suppose I want to sell the 100 units today, is it possible to sell them at say 55K (making 5K profit) or at say (45K) making a loss of 5K, depending on my negotiation with the buyer? Or sell them at par value of 50K? Or how is the selling done? Plus I do Bills directly with CBK, how will I sell the IFB at CBK? Or will they require me to do it through at an appointed broker like a bank? Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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@ Impunity hope i got what you meant.. This is what happens lets take the example of the 1.2016.20,lets say you got it at 14.60 at the primary for 5 mio,current rates are around 14-13.80 for the paper...You as Impunity wants to sell...there is that form on the cbk website that you appoint up to 5 brokers/investment banks who can secondary trade for you...so you can have Genghis...Dyer...Sterling...etc so you talk to the Fixed income dealers for whoever you put on your form tell them you want to sell...they will source the market for a bid + rate if its to your liking you start the process of selling... possunt quia posse videntur
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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maka wrote:@ Impunity hope i got what you meant..
This is what happens lets take the example of the 1.2016.20,lets say you got it at 14.60 at the primary for 5 mio,current rates are around 14-13.80 for the paper...You as Impunity wants to sell...there is that form on the cbk website that you appoint up to 5 brokers/investment banks who can secondary trade for you...so you can have Genghis...Dyer...Sterling...etc so you talk to the Fixed income dealers for whoever you put on your form tell them you want to sell...they will source the market for a bid + rate if its to your liking you start the process of selling... You do this letter ....  Then this form...  They are taken to CBK by your appointed broker.... possunt quia posse videntur
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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CBK calls you prior to availing the paper for trading...the paper has upto 30 days within which you can trade...but if you trade you have T+3 to make payment or receive payment from your counterparty if you are selling. possunt quia posse videntur
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