Analysts at Genghis Capital said liquidity is likely to be drained further should the regulator choose to issue a tap sale of the infrastructure bond floated earlier this month, while lenders are also likely to be looking for cash to settle tax payments.

“We anticipate slight tight liquidity in the market, being the incipient days of the new (cash reserve ratio (CRR) cycle and the expected statutory corporate tax payments,” said Genghis in a note.

“We also anticipate a tap sale on the infrastructure bond to mop-up the rejected cash from the initial auction and also endear to investors who were squeezed out by constrained initial sale period.”

Kesho is another day. We will be waiting

Underpriced, they should pay 13%+ for this tenor. They'll raise rates soon...

The coupon rate remains same coz it's a tap sale.
The weighted rate may go higher than 12.156 (sad) but also may go lower. So much liquidity in the market.