The Government has announced the successful pricing of a $ 1.5 billion Eurobond as part of its liability management strategy.
The bond with a coupon of 9.5 per cent will be amortised in three equal installments in 2034, 2035 and 2036, resulting in a weighted average life of 10 years.
The Cabinet Secretary (CS) for the National Treasury and Economic Planning, John Mbadi, noted that Kenya received strong demand, with a high-quality order book exceeding $ 5 billion. "Proceeds from the 2036 Eurobond will be used to refinance existing external debt, including the planned buyback of Kenya's $ 900 million Eurobond maturing in 2027," announced the CS in a press statement.
Mbadi added that the final amount for the buyback will be determined based on demand in the ongoing tender offer, upon which results are expected on March 3, 2025.
