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NSE records low bonds trade in March
The bond was hugely oversubscribed as it is tax-free with a provision for a partial principal redemption (repayment) during its life. “People held back on trading in the secondary market because they were sparing liquidity to participate in the infrastructure bond,” said Alexander Muiruri, head of sales and research at Nairobi-based brokerage house Kestrel Capital. Despite the high liquidity shown by the market in the subscription of the 12-year bond, the yield actually went up…
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