Kenya has appointed four banks to handle the sale of Eurobonds scheduled for the issue in the next two months. These are Citigroup, JPMorgan Chase, Standard Chartered Bank Plc and Standard Bank Group’s Kenyan unit, Stanbic.
Kenya is looking for 3,2 billion dollars (320 billion shillings) from external sources during the 2018-2019 exercise that kicks off the July 1er.
The expected amount will be used to settle the five-year Eurobond maturing in June 2019 and withdraw a syndicated loan of 800 millions of dollars taken in 2016. Kenya has sold 2,75 billion shillings (240 billion euros) in 2014 with 750 million dollars (76 billion shillings) due 2019 and 2 billion dollars (204 billion shillings) due 2024.
Nigeria has already raised 750 million (77 billion shillings) for commercial purposes through a loan from a syndicate of lenders led by Trade & Development Bank.
According to the Treasury, the government will continue to diversify sources of financing over the medium term by maintaining its presence in international financial markets.
