CBK rejects Sh20bn as bidders seek higher rates

The Central Bank of Kenya (CBK) rejected a Sh20.4 billion offer for two reopened September bonds, aiming to control the government's borrowing costs. Out of Sh68.1 billion offered by investors, the CBK accepted Sh47.7 billion, looking to raise Sh60 billion. The 15-year and 30-year bonds received bids, but the 30-year security was largely snubbed due to its lower coupon rate.