Government officials are in the US and Europe conducting roadshows to promote the planned 250 billion shillings Eurobond.
According to Reuters news agency, Kenya is expected to float 12 and 31-year Eurobonds that would be listed on the Irish and London stock exchanges.
Kenya returned for a 10-year and 30-year dual-tranche bond in early 2018 before starting talks with lenders at the beginning of this year on the issuance of a further 2.5 billion dollar worth of bonds.
According to the National Treasury, some of the funds raised from the new Eurobond issue will be used to refinance a maturing 5-year dollar denominated bond that was issued in June 2014.
Reuters has reported that government officials are in the US and Europe conducting roadshows to promote the planned 250 billion shillings Eurobond.
According to Reuters news agency, Kenyan officials are meeting investors in London and the United States to promote the 12-year and 31-year dual-tranche Eurobond.
Reuters which quoted the lead arranger for the latest Eurobond issue said.
“The East African nation, which made its international capital markets debut in the summer of 2014, has mandated J.P. Morgan and Standard Chartered to lead the new Eurobond issue.”
According to the East African institute of Economic Affairs the average yield of dollar bonds of African countries is estimated to have risen by more than 160 basis points in January 2019.
According to Reuters news agency the new Eurobond will be listed on the Irish and London stock exchanges.