Kenya May Sell Eurobond This Month After Legal Snags Cleared
This article is for subscribers only.
Kenya may offer its debut Eurobond as early as next week after settling two court-awarded payments linked to a corruption scandal that had blocked the offering, Treasury Secretary Henry Rotich said.
The 1.4 billion-shilling ($16 million) payments, which had been opposed by Kenyan lawyers because they were linked to a corruption scandal, were made after authorization by President Uhuru Kenyatta. The Treasury doesn’t have “any other legal hurdles” blocking the bond sale and a schedule of planned presentations to investors will be announced this week or “early” next week, Rotich said in an interview today.