Views Article – Sharenet Wealth

Africa, News

Kenya gets huge demand for its $1 bln Eurobond offer – IFR

NAIROBI, June 17 (Reuters) – Kenya has received orders of more than $3 billion for its $1 billion Eurobond offering, which comes with initial pricing talk of 6.75%-6.875%, Refinitiv’s capital markets news service IFR said on Thursday.

The dollar-denominated bond, whose proceeds will go towards helping the East African nation’s Treasury manage liquidity, has Citi and JP Morgan as joint book-runners, and Kenyan lenders I&M Bank and NCBA Group as co-managers.

The bond has a final maturity in 2034, according to the offer documents.

(Reporting by Duncan Miriri; Editing by Alison Williams)

© 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.