Kenya to sell 1-year Treasury bond for 20 bln shillings

Kenya will offer a one-year Treasury bond for up to 20 billion shillings ($194.27 million) during its monthly auction on Oct. 21, the central bank said.

The East African nation has been paying higher yields on debt after short-term interest rates jumped to above 21 percent last week, mainly due to the central bank's tightening stance.

The bond will be on sale until Oct. 19, the central bank said, and the funds from the sale will be used for budgetary support.