A report Monday suggested that the Kenyan government had received orders worth
The report by the Reuters news agency quoted an unnamed government official.
The figure is beyond the
The proceeds from sovereign bond will also be used to repay an existing syndicated Sh53 billion (
A Eurobond is an international bond that is denominated in a currency that does not belong to the country where it is being issued.
According to analysts, the issue is attracting high demand because it comes in two tenors with a five-year tranche offering investors a minimum 6 percent return and a 10-year portion, guaranteeing a yield of 7 percent.
"Investors have a different appetite for debt depending on the duration and once the Eurobond market develops, you might find multi-tenor offers become more popular to cater for refinancing risk," a fixed-income trader in
The government had also planned to move to
On Thursday last week Treasury Cabinet Secretary
The first time
The government forecasts economic growth will accelerate to 6.1 percent in the year through
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