Kenya Plans $500 Million Debut Panda Bond to Fund Next Budget
- Nation is seeking to widen its foreign funding sources
- Strategy encouraged by Egypt’s $3.5 billion panda bond sale
Kenya seeks to widen its funding pool from foreign sources.
Photographer: Tony Karumba/AFP/Getty ImagesThis article is for subscribers only.
Kenya plans to raise $500 million through a debut bond sale in China as it seeks to widen its funding pool from foreign sources, according to people familiar with the plans.
The sale of the so-called panda bond is planned to take place in the fiscal year commencing July 1 and will be used to finance its budget deficit, said one of the people, who asked not to be named as they are not authorized to speak.