Kenya's Cabinet Secretary of National Treasury Rotich addresses delegates during the launch of the first mobile-phone-based government bond, called M-Akiba, at the Treasury building in Nairobi

Kenya's finance ministry confirms it sought Eurobond proposals

NAIROBI (Reuters) - Kenya's finance ministry has sought proposals from banks and firms to provide lead manager services for the issuance of a new Eurobond, it said on Wednesday, confirming an earlier source-based report by Reuters.

Proceeds from the Eurobond sale, whose amount will be determined at a later date, will be used to fund the 2018/19 (July-June) budget deficit, the ministry said in a response to questions by Reuters, without offering more details.

(Reporting by Duncan Miriri; Editing by Catherine Evans)

First Published: 2019-01-23 09:40:09
Updated 2019-01-23 16:33:10

© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.