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Kenya starts selling 5-yr bond worth up to $149 mln

NAIROBI, Nov 12 (Reuters) - Kenya's central bank began selling a five-year bond worth up to 12 billion shillings ($148.9 million) on Friday, the proceeds of which will go towards budgetary support. Discount and interest payments will be subject to a 15 percent withholding tax, and the coupon will be determined by the market, the central bank said in a statement. The bond will be on sale from Nov. 12 to 23 and has a payment date of Nov. 29. Fixed income traders first broke news of the bond on Thursday. The bond has a redemption date of Nov 23, 2015. The bond will be listed on the Nairobi Stock Exchange and secondary trading in tranches with multiples of 50,000 shillings will start on Nov. 30, the bank said. ($1=80.60 Kenyan Shilling) (Reporting by George Obulutsa) Keywords: KENYA BOND/ (Email:nairobi.newsroom@reuters.com;Tel +254 20 2224 717) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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