The Kenyan central bank sits in central Nairobi, Kenya, on Thursday, Feb.10, 2011. KenyaÕs current-account deficit widened to $1.92 billion in the year through October from $1.75 billion a year earlier following increased imports and reduced short-term flows, the central bank said. Photographer: Trevor Snapp/Bloomberg

The Central Bank of Kenya says it will sell 5-year and 20-year Treasury bonds worth a total 40 billion shillings ($396 million) this month.

In a statement, the bank said it would receive bids for the two bonds until March 20, and auction them a day later. The five-year bond will have a market-determined coupon, while the twenty-year has a statutory coupon rate of 13.2 percent.

Treasury bonds are a secure, medium- to long-term investment that typically offer you interest payments every six months throughout the bond’s maturity. The Central Bank auctions Treasury bonds on a monthly basis, but offers a variety of bonds throughout the year, so prospective investors should regularly check for upcoming auctions.

Most Treasury bonds in Kenya are fixed rate, meaning that the interest rate determined at auction is locked in for the entire life of the bond. This makes Treasury bonds a predictable, long-term source of income. The National Treasury also occasionally issues tax-exempt infrastructure bonds, a very attractive investment.