The government has announced plans to sell new dollar bonds to finance the repurchase of $900 million (about Ksh 116.55 billion in the current exchange rates) eurobonds due in 2027.
On Monday, February 24, Kenya unveiled the plan to reduce pressures on the maturing debt that could negatively impact the currency and the economy. While issuing the notice, the government did not indicate how much it intends to raise, but the playbook is similar to that used by Treasury last year.
The offer is part of "the proactive management of Kenya's external indebtedness, specifically to smooth out the maturity profile of the notes," according to a statement released yesterday.
President William Ruto, accompanied by Treasury CS John Mbadi at the Inua Biashara MSME Exhibition at the KICC in Nairobi on October 17, 2024.
