{{Kenya has already received orders worth $3 billion for its debut sovereign bond that seeks to raise $1.5 billion to $2 billion, a senior government source told Reuters on Monday.}}<\/p>\n
The east African nation, which is rated B+ by Standard and Poors, launched its Eurobond roadshow this month.<\/p>\n
The government source, who declined to be named, would not give further details about the marketing campaign.<\/p>\n
Analysts said the issue was attracting high demand because it comes in two tenors with a five-year tranche offering investors a minimum 6 percent return and a 10-year portion guaranteeing a yield of 7 percent.<\/p>\n
“I am not too surprised (by the demand) given the wider product offering,” said a fixed-income trader in Nairobi.<\/p>\n
“Investors have a different appetite for debt depending on the duration and once the Eurobond market develops, you might find multi-tenor offers become more popular to cater for refinancing risk,” the added.<\/p>\n
Traders said the pricing of the Kenyan five-year offer was cheaper than the existing Senegalese one of the same tenor, while the 10-year tranche as cheaper than the one issued by Zambia earlier this year.<\/p>\n
The Kenyan government has said proceeds of the Kenyan bond will be used to repay an existing syndicated $600 million loan and finance infrastructure projects.<\/p>\n
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{{Kenya has already received orders worth $3 billion for its debut sovereign bond that seeks to raise $1.5 billion to $2 billion, a senior government source told Reuters on Monday.}} The east African nation, which is rated B+ by Standard and Poors, launched its Eurobond roadshow this month. The government source, who declined to be […]<\/p>\n","protected":false},"author":2,"featured_media":2000052720,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[99],"byline":[170],"hashtag":[],"class_list":["post-15001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-greatlakesnews","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":{"id":2000052720,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15001.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15001.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15001.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15001.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15001.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15001.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/15001","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=15001"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/15001\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000052720"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=15001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=15001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=15001"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=15001"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=15001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}