Kenya has realized a total sum of 108 billion shillings (about $1 billion) through the issuance of a 12-year Eurobond in the international financial markets.
According to the Treasury, this is following a three-day virtual road-show.
A statement by the Cabinet Secretary at National Treasury and Planning, Ukur Yatani the bond was over-subscribed with over $5.4 billion offered by investors to the new issue.
“The overwhelming response from global investors reflects the market’s continued confidence in Kenya’s economic recovery programme supported by the International Monetary Fund (IMF).
“And it is in line with our medium-term debt management strategy approved by parliament,’’ Yatani said.
The Treasury, the new Eurobond was the first issue by the east African nation in two years.