Kenya to Raise $2.8 Billion From Eurobonds, Loans This Year
- State sold $2 billion of Eurobonds in Feb. after 2014 debut
- IMF raised state’s risk of debt distress to moderate last week
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Kenya will offer Eurobonds and seek a syndicated loan to raise the 287 billion shillings ($2.8 billion) net external financing it planned this fiscal year, a Treasury official said. The currency weakened to an eight-month low.
The state plans to raise as much as 250 billion shillings of Eurobonds in what would be its third sale of the debt, Treasury Principal Secretary Kamau Thugge said by text message from the capital, Nairobi. It will also seek about 37 billion shillings of commercial debt, he said, without giving more details.