Nairobi, Feb. 12 -- Investors offered the government Sh213.74 billion in the February 2026 Treasury bond issuance, after the latest rate cut by the Central Bank of Kenya (CBK) sparked a rush to lock in the returns of between 12.34 percent and 13.4 percentavailable from the reopened papers.

This is the highest volume the market has seen in bids outside of infrastructure bonds, underlining the expectations in the markets that returns from government securities will fall further in the near term after the CBK lowered its base rate to 8.75 percent from nine percent on Tuesday.

The bond sale, which closed on Wednesday, saw the government reopen a 15-year paper first issued in 2019, and a 25-year bond that was initially auctioned in 2018, wit...