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Kenya Said to Be Near $800 Million Citibank, StanChart Loan

  • State mulls single Eurobond placement to finance 2018 deficit
  • Government may raise spending as nation gears up for elections
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Kenya is close to signing an $800 million syndicated loan with four banks to help fund infrastructure projects and support the shilling, according to a person familiar with the matter.

East Africa’s biggest economy is expected to sign the three-year facility with Citigroup Inc., Standard Bank Group Ltd., Standard Chartered Plc and Rand Merchant Bank by Tuesday, the person said, declining to be identified because he isn’t authorized to speak on the matter. Kamau Thugge, the Treasury’s principal secretary, didn’t answer calls and text messages seeking comment.