The 2031 Eurobond, will be paid in three equal instalments in the years 2029, 2030, and 2031. This issuance attracted a robust demand from investors, with the order book exceeding $6 billion, allowing Kenya to secure tighter pricing and increase the issuance volume beyond the initial guidance. The proceeds from this Eurobond are earmarked for a buyback of Kenya's existing $2 billion Eurobonds due in 2024, pending demand in the Tender Offer, with results expected by February 15, 2024. The successful issuance of the Eurobond is a testament to the international capital markets' confidence in Kenya's economy and its government's debt management strategies. This achievement is in line with President William Ruto's administration's commitment to sound financial management and proactive debt management.

Source: Daily Nation February 13, 2024 17:20 UTC