CBK accepts Ksh754 million in 20-year Treasury switch bond auction
By Sharon Atieno, July 13, 2026The Central Bank of Kenya (CBK) has accepted bids worth Ksh754.43 million in its latest 20-year Treasury switch bond auction, as investors participated in the government’s ongoing debt management programme.
In a post shared on X account by the CBK on Monday, July 13, 2026, the switch auction involved the FXD1/2012/020 Treasury bond, which has a remaining maturity of 6.3 years and is due on November 1, 2032.
“The auction attracted bids worth Ksh1.954 billion, of which Ksh754.425 million was accepted translating to a performance rate of 103 per cent against the amount offered,” the CBK said.
Auction records strong investor interest
The CBK accepted Ksh754.43 million out of the bids received, with the auction posting a bid-to-cover ratio of 1.03, an indication that investor demand slightly exceeded the amount on offer.
“The market weighted average rate was 12.8118 per cent, while the weighted average accepted rate stood at 12.8076 per cent,” the central bank stated.
CBK also disclosed that Ksh7.91 billion was successfully switched from the source bond into the destination security as part of the debt refinancing exercise.
August bond details to follow
The regulator said details of Treasury bond issues scheduled for August 2026, including their tenors, coupon rates and auction terms, will be published in the respective prospectuses ahead of the planned sales.
“The specifics of the Treasury bond issues for the month of August 2026, including the tenors, coupon rates and issue terms, will be provided in the respective prospectuses before the auction dates,” CBK said.
Treasury switch auctions allow investors to exchange existing government securities for new ones, helping the government manage debt maturities while giving investors an opportunity to adjust their portfolios.
Follows Ksh57.8bn Treasury bond sale
The latest switch auction comes days after the CBK raised Ksh57.78 billion through the reopening of three Treasury bonds after attracting bids worth Ksh74.67 billion, reflecting strong investor appetite for government securities.
The largest share of demand was directed to a newly issued 30-year Treasury bond, while the CBK said Treasury bonds remain one of the government’s key domestic borrowing instruments used to finance infrastructure projects, public services and debt refinancing.
The central bank has also indicated that further details of the August 2026 Treasury bond issues will be released ahead of the next auction cycle.