Kenya to buy back Sh117bn Eurobond ahead of maturity
Kenya is set to buy back a $900 million (Sh116.7 billion) seven-year tranche of the $2.1 billion (Sh271.76 billion) Eurobond issued in May 2019, using the proceeds of a proposed new bond of a longer tenor.
The fourth Eurobond was sold in June 2021, raising $1 billion (Sh129.6 billion) on a 12-year tenor, at a rate of 6.3 percent.
The fifth issuance was the $1.5 billion(Sh 194.09 billion) that was raised in February 2024, to fund that month’s buyback of the 2014 bond.
Kenya is set to buy back a $900 million (Sh116.7 billion) seven-year tranche of the $2.1 billion (Sh271.76 billion) Eurobond issued in May 2019, using the proceeds of a proposed new bond of a longer tenor.
Bond buybacks enable issuers to retire an outstanding debt before its maturity date against a cash payment.
