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Treasury Bills and Bonds
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muganda
#1621 Posted : Wednesday, November 16, 2022 11:05:39 AM
Rank: Elder


Joined: 9/15/2006
Posts: 3,890
Talk is cheap; the cost of money is real. Tap Sale is here at 13.938%.
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mchawi
#1622 Posted : Wednesday, November 16, 2022 1:21:33 PM
Rank: New-farer


Joined: 4/4/2011
Posts: 94
Location: Nairobi
muganda wrote:
Talk is cheap; the cost of money is real. Tap Sale is here at 13.938%.



Government looking for another 5B!

I thought CBK accepted the last IFB1 2022/14 Bond by an additional over 15B?

Looks like the thirst is real...
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mchawi
#1623 Posted : Thursday, November 24, 2022 8:37:43 AM
Rank: New-farer


Joined: 4/4/2011
Posts: 94
Location: Nairobi
mchawi wrote:
muganda wrote:
Talk is cheap; the cost of money is real. Tap Sale is here at 13.938%.



Government looking for another 5B!

I thought CBK accepted the last IFB1 2022/14 Bond by an additional over 15B?

Looks like the thirst is real...


CBK accepted 19B!

Also seeking to roll over another 87.8B of T-Bills and FXD Bonds as a 6-year Infrastructure Bond. What could this imply?
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My 2 cents
#1624 Posted : Thursday, November 24, 2022 1:45:24 PM
Rank: Veteran


Joined: 6/2/2010
Posts: 958
mchawi wrote:
mchawi wrote:
muganda wrote:
Talk is cheap; the cost of money is real. Tap Sale is here at 13.938%.



Government looking for another 5B!

I thought CBK accepted the last IFB1 2022/14 Bond by an additional over 15B?

Looks like the thirst is real...


CBK accepted 19B!

Also seeking to roll over another 87.8B of T-Bills and FXD Bonds as a 6-year Infrastructure Bond. What could this imply?


What else other than the GoK is broke!
Get ready for massive tax hikes.
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Impunity
#1625 Posted : Tuesday, December 13, 2022 10:25:30 AM
Rank: Elder


Joined: 3/2/2009
Posts: 26,318
Location: Masada
Anyone so far? Yesterday was 12th, a public holiday. Waiting!
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Impunity
#1626 Posted : Tuesday, December 13, 2022 4:13:05 PM
Rank: Elder


Joined: 3/2/2009
Posts: 26,318
Location: Masada
It came,thanks mates!
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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MatataMingi
#1627 Posted : Friday, December 16, 2022 4:48:46 PM
Rank: Member


Joined: 11/17/2009
Posts: 380
Location: Where everyone knows you
Impunity wrote:
It came,thanks mates!


What came???Think
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xtina
#1628 Posted : Saturday, December 17, 2022 12:20:38 PM
Rank: Member


Joined: 6/26/2008
Posts: 372
MatataMingi wrote:
Impunity wrote:
It came,thanks mates!


What came???Think


Probably a coupon payment
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MatataMingi
#1629 Posted : Sunday, December 18, 2022 10:55:19 AM
Rank: Member


Joined: 11/17/2009
Posts: 380
Location: Where everyone knows you
Thanks. Makes sense.
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Thitifini
#1630 Posted : Saturday, January 28, 2023 11:02:16 PM
Rank: Member


Joined: 1/15/2015
Posts: 681
Location: Kenya
What is the chance of government restructuring domestic debt at the moment guys?

I see interest of domestic papers is almost 3/4 yet debt itself is less than half. Also noted that Ghana was in the same situation and has begun restructuring domestic debt.....

...then sometime last year we almost defaulted on a due Chinese loan interest 0payment?

60% Learning, 30% synthesizing, 10% Debating
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sparkly
#1631 Posted : Sunday, January 29, 2023 3:44:13 PM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Thitifini wrote:
What is the chance of government restructuring domestic debt at the moment guys?

I see interest of domestic papers is almost 3/4 yet debt itself is less than half. Also noted that Ghana was in the same situation and has begun restructuring domestic debt.....

...then sometime last year we almost defaulted on a due Chinese loan interest 0payment?


GOK has been beseeching TB holders to convert to longer term Bonds
Life is short. Live passionately.
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Thitifini
#1632 Posted : Friday, February 03, 2023 10:32:47 PM
Rank: Member


Joined: 1/15/2015
Posts: 681
Location: Kenya
sparkly wrote:
Thitifini wrote:
What is the chance of government restructuring domestic debt at the moment guys?

I see interest of domestic papers is almost 3/4 yet debt itself is less than half. Also noted that Ghana was in the same situation and has begun restructuring domestic debt.....

...then sometime last year we almost defaulted on a due Chinese loan interest 0payment?


GOK has been beseeching TB holders to convert to longer term Bonds


Conversion of debt to long term is not a big problem for me. Restructuring debt is what I'm worried about. Imagine holding a bond of 12% then the government doesn't pay up or reduces the interest on rolled over interest to zero!

60% Learning, 30% synthesizing, 10% Debating
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MatataMingi
#1633 Posted : Monday, March 20, 2023 11:38:42 AM
Rank: Member


Joined: 11/17/2009
Posts: 380
Location: Where everyone knows you
I don't think that the Government can refuse to pay, or reduce interest on rolled over bids to zero.
Too many funds and banks are holding investments.
They could, I suppose not redeem the investments on the due dates, and keep paying the coupon.
Or they could, as they recently did, offer attractive switch bonds for upcoming redemptions.
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VituVingiSana
#1634 Posted : Monday, March 20, 2023 11:51:18 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,881
Location: Nairobi
MatataMingi wrote:
I don't think that the Government can refuse to pay, or reduce interest on rolled over bids to zero.
Too many funds and banks are holding investments.
They could, I suppose not redeem the investments on the due dates, and keep paying the coupon.
Or they could, as they recently did, offer attractive switch bonds for upcoming redemptions.

Ghana
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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heri
#1635 Posted : Monday, March 20, 2023 12:15:05 PM
Rank: Member


Joined: 9/14/2011
Posts: 814
Location: nairobi
MatataMingi wrote:
I don't think that the Government can refuse to pay, or reduce interest on rolled over bids to zero.
Too many funds and banks are holding investments.
They could, I suppose not redeem the investments on the due dates, and keep paying the coupon.
Or they could, as they recently did, offer attractive switch bonds for upcoming redemptions.



Unless things change, the path we are on as a country will most likely lead us to Ghana situation. I saw that even Counties have not been receiving funds
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Ericsson
#1636 Posted : Monday, March 20, 2023 1:49:42 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,554
Location: NAIROBI
heri wrote:
MatataMingi wrote:
I don't think that the Government can refuse to pay, or reduce interest on rolled over bids to zero.
Too many funds and banks are holding investments.
They could, I suppose not redeem the investments on the due dates, and keep paying the coupon.
Or they could, as they recently did, offer attractive switch bonds for upcoming redemptions.



Unless things change, the path we are on as a country will most likely lead us to Ghana situation. I saw that even Counties have not been receiving funds


Start with Sri Lanka before heading to Ghana
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Queen
#1637 Posted : Wednesday, March 22, 2023 11:55:35 AM
Rank: Member


Joined: 11/21/2018
Posts: 523
Location: Britain
The recent Tap Sale for IFB1/2023/17 attracted kshs12B only from the 20B on offer signalling tight liquidity in the market given that the coupon rate was quite attractive at 14.399% p.a.
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