By HELLEN GITHAIGAMore by this AuthorBy PAUL WAFULAMore by this AuthorKenya has sold a Sh210 billion Eurobond, the third in five years, despite rising concern over its ability to service its debt burden. Mr Rotich says the money raised will be used to finance the budget and repay Sh75 billion 2014 Eurobond that is due to mature in June. The inaugural Eurobond was in June 2014 where a total of Sh280 billion was borrowed in five and 10-year tranches. The government went back for another Eurobond last year where it netted Sh202 billion in 10 and 30-year tranches. In seeking the new financing options, Treasury hopes to diversify the sources of external debt and reduce over reliance on current sources of debt financing.

Source: Daily Nation May 16, 2019 03:45 UTC