Kenya to issue $1 billion fifth Eurobond by July

Kenya is set to issue the fifth Eurobond by end of this financial year.

National Treasury CS Ukur Yatani on Thursday told journalists that Kenya is still going for the Sh115 billion ($1 billion) before July.

The government had in the last seven years issued four Eurobonds, with the latest being in June last year, when the country raised $1 billion (Sh108 billion).

Kenya went for the first Eurobond in 2014 worth $2 billion which was followed by two more issues of $2.1 billion and $2 billion in 2018 and 2019, respectively.

A huge chunk of those sovereign bonds were used to settle the maturing debt.

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