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Rank: New-farer Joined: 6/5/2019 Posts: 19
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AndyC wrote:Disappointing coupon rate on the IFB. Bet Kengen will do better. An offer price of 95.875 aint bad either.. But the coupon rate should have been better.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Said it before this should happen in Kenya as well... On the coupon rate we were conned.. What did the initial prospectus say? possunt quia posse videntur
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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maka wrote:Said it before this should happen in Kenya as well... On the coupon rate we were conned.. What did the initial prospectus say?  possunt quia posse videntur
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Rank: Member Joined: 4/21/2015 Posts: 151
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maka wrote:Said it before this should happen in Kenya as well... On the coupon rate we were conned.. What did the initial prospectus say? Prospectus promised a market determined rate. Words can be very deceiving 
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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AndyC wrote:maka wrote:Said it before this should happen in Kenya as well... On the coupon rate we were conned.. What did the initial prospectus say? Prospectus promised a market determined rate. Words can be very deceiving  possunt quia posse videntur
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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AndyC wrote:maka wrote:Said it before this should happen in Kenya as well... On the coupon rate we were conned.. What did the initial prospectus say? Prospectus promised a market determined rate. Words can be very deceiving If they come from Jubilee administration. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Hii ni opus dei con job, sad!!! In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Ericsson wrote:murchr wrote:maka wrote:https://www.centralbank.go.ke/uploads/treasury_bonds_prospectuses/1334980349_OCTOBER%20%202019%2016%20YR%20%20IFB1-2019-16%20dated%2028.10.2019..pdf
October IFB...
If you have an account buy as much as possible... Coupon = Market determines means? Auction method or best fit coupon rate Mmh!!! "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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Angelica _ann wrote:Hii ni opus dei con job, sad!!! So guys will be paid 11.75% on the value invested and not at 12.5%? Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Impunity wrote:Angelica _ann wrote:Hii ni opus dei con job, sad!!! So guys will be paid 11.75% on the value invested and not at 12.5%? Yep...The weighted average of accepted bids should have been used as the coupon rate as per previous auctions... Hapo wamegonga watu ndipo.... They have refused to answer questions as to how they arrived at that figure... possunt quia posse videntur
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Rank: New-farer Joined: 6/5/2019 Posts: 19
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Does it make any difference if they gave an offer price of 100 instead of 95.875 but with the weighted average coupon rate? It seems they gave us upfront interest.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Esstiko wrote:Does it make any difference if they gave an offer price of 100 instead of 95.875 but with the weighted average coupon rate? It seems they gave us upfront interest. Isnt that how it works? "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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murchr wrote:Esstiko wrote:Does it make any difference if they gave an offer price of 100 instead of 95.875 but with the weighted average coupon rate? It seems they gave us upfront interest. Isnt that how it works? Yes that's if buying at a disount but its still off the market weighted average of accepted rate by 0.144% 12.394 - (11.75/95.875 *100) When it comes to trading its a different ball game imagine someone applying the paper at 12.50% and got it lets say 100 m..... Then if CBK had gone with the coupon of 12.394 (marketed weighted average) ...trading that paper from 12.50 to lets say 12 flat gives crazy margins... Let me make the calc I will show the math.... possunt quia posse videntur
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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maka wrote:Impunity wrote:Angelica _ann wrote:Hii ni opus dei con job, sad!!! So guys will be paid 11.75% on the value invested and not at 12.5%? Yep...The weighted average of accepted bids should have been used as the coupon rate as per previous auctions... Hapo wamegonga watu ndipo.... They have refused to answer questions as to how they arrived at that figure... Can guys refuse to pay for the bond and let's see what CBK will do. This is robbery. How did they arrive at 11.75% Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Impunity wrote:maka wrote:Impunity wrote:Angelica _ann wrote:Hii ni opus dei con job, sad!!! So guys will be paid 11.75% on the value invested and not at 12.5%? Yep...The weighted average of accepted bids should have been used as the coupon rate as per previous auctions... Hapo wamegonga watu ndipo.... They have refused to answer questions as to how they arrived at that figure... Can guys refuse to pay for the bond and let's see what CBK will do. This is robbery. How did they arrive at 11.75% Refuse how and guys have paid rem we are very small fish in the sphere of things.... Retail investors are just about 2.1%... You compete with guys who go into a primary up to 1B or way more at times... Then buy anything outstanding from the Secondary market...  On a serious note this was so wrong in every way first time I have seen this .... possunt quia posse videntur
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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maka wrote:Impunity wrote:maka wrote:Impunity wrote:Angelica _ann wrote:Hii ni opus dei con job, sad!!! So guys will be paid 11.75% on the value invested and not at 12.5%? Yep...The weighted average of accepted bids should have been used as the coupon rate as per previous auctions... Hapo wamegonga watu ndipo.... They have refused to answer questions as to how they arrived at that figure... Can guys refuse to pay for the bond and let's see what CBK will do. This is robbery. How did they arrive at 11.75% Refuse how and guys have paid rem we are very small fish in the sphere of things.... Retail investors are just about 2.1%... You compete with guys who go into a primary up to 1B or way more at times... Then buy anything outstanding from the Secondary market... On a serious note this was so wrong in every way first time I have seen this .... Me too I have never seen this b4. Serious "typo" in the department at cbk. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Impunity wrote:maka wrote:Impunity wrote:maka wrote:Impunity wrote:Angelica _ann wrote:Hii ni opus dei con job, sad!!! So guys will be paid 11.75% on the value invested and not at 12.5%? Yep...The weighted average of accepted bids should have been used as the coupon rate as per previous auctions... Hapo wamegonga watu ndipo.... They have refused to answer questions as to how they arrived at that figure... Can guys refuse to pay for the bond and let's see what CBK will do. This is robbery. How did they arrive at 11.75% Refuse how and guys have paid rem we are very small fish in the sphere of things.... Retail investors are just about 2.1%... You compete with guys who go into a primary up to 1B or way more at times... Then buy anything outstanding from the Secondary market... On a serious note this was so wrong in every way first time I have seen this .... Me too I have never seen this b4. Serious "typo" in the department at cbk. possunt quia posse videntur
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Rank: Member Joined: 1/13/2012 Posts: 139
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What GOK did was wrong in terms on industry standards, that being said, for investors, their Yield is the most important thing here, Average at 12.394/ any other competitive bid. You get a significant discount at average and even better for those who locked in higher yields. The only concern is that incase i bid 10M at average, the accepted at 9.5M, the balance of 0.5M does not earn a return as per the current yield of 12.394% making my balance suffer reinvestment risk at lower Yields Impunity wrote:maka wrote:Impunity wrote:Angelica _ann wrote:Hii ni opus dei con job, sad!!! So guys will be paid 11.75% on the value invested and not at 12.5%? Yep...The weighted average of accepted bids should have been used as the coupon rate as per previous auctions... Hapo wamegonga watu ndipo.... They have refused to answer questions as to how they arrived at that figure... Can guys refuse to pay for the bond and let's see what CBK will do. This is robbery. How did they arrive at 11.75%
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Rank: New-farer Joined: 6/5/2019 Posts: 19
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shadowinvestor wrote:What GOK did was wrong in terms on industry standards, that being said, for investors, their Yield is the most important thing here, Average at 12.394/ any other competitive bid. You get a significant discount at average and even better for those who locked in higher yields. The only concern is that incase i bid 10M at average, the accepted at 9.5M, the balance of 0.5M does not earn a return as per the current yield of 12.394% making my balance suffer reinvestment risk at lower Yields Impunity wrote:maka wrote:Impunity wrote:Angelica _ann wrote:Hii ni opus dei con job, sad!!! So guys will be paid 11.75% on the value invested and not at 12.5%? Yep...The weighted average of accepted bids should have been used as the coupon rate as per previous auctions... Hapo wamegonga watu ndipo.... They have refused to answer questions as to how they arrived at that figure... Can guys refuse to pay for the bond and let's see what CBK will do. This is robbery. How did they arrive at 11.75% Makes sense, the balance of face value suffers no return.
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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Madness. Even moi in the early 90s never did this. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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