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Kenya to Sell Eurobond by August as Debt Payment Extended

Kenya plans to sell its inaugural Eurobond by mid-August, when its $600 million syndicated loan is scheduled to mature after it agreed to a three-month extension with lenders, Treasury Principal Secretary Kamau Thugge said.

East Africa’s largest economy had intended to settle the loan with part of the proceeds of the sale of as much as $2 billion of Eurobonds, which has been repeatedly delayed since September because of organizational and legal challenges.