Kenya raises $1bln through Eurobond

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Kenya raises $1bln through Eurobond

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KENYA has raised 108 billion shillings (about $1 billion) through the issuance of a 12-year Eurobond in the international financial markets.

This is following a three-day virtual road-show, the Treasury said.

The bond was over-subscribed with over $5.4 billion offered by investors to the new issue, Ukur Yatani, Cabinet Secretary at National Treasury and Planning, said in a statement.

“The overwhelming response from global investors reflects the market’s continued confidence in Kenya’s economic recovery programme supported by the International Monetary Fund (IMF).

“And it is in line with our medium-term debt management strategy approved by parliament,’’ Yatani said.

According to the Treasury, the new Eurobond was the first issue by the east African nation in two years.

NAN

– June 18, 2021 @ 17:53 GMT |

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