Opportunity for investors as CBK opens high-yield swap bond sale

The Central Bank of Kenya (CBK) has opened the sale of a Sh10 billion switch bond offering higher returns to holders who accept the swap. This offer allows holders of a 10-year bond maturing in July 2027 to switch to a 20-year bond with an interest rate of 13.44%. CBK Governor Kamau Thugge attributed the poor performance of the previous sale to geopolitical uncertainty surrounding the Iran war.