Kenya has secured a new Ksh193 billion ($1.5B) Eurobond deal, it has now emerged.
The deal, conducted by two banks on behalf of the National Treasury, saw Kenya receive billions of shillings in addition to securing a $579 million buyback of Kenya's existing Eurobond that matures in 2027.
This means that instead of waiting until 2027 to repay the entire bond, Kenya prepaid $579 million (Ksh74.8B) of it by offering current bondholders the chance to sell back their bonds early.
The new Eurobond will mature in 2036 and has a ten-year weighted average life, as the principal will amortize in equal instalments during the final three years to maturity.
