Kenya floats 400 mln USD bond

2018-07-10 09:55

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Kenya has this month put up for sale Treasury bond worth 400 million U.S. dollars as the government strives to support the budget.

The bond is the first for this financial year and comes weeks after the government presented its 30 billion dollars budget in parliament.

"The Central Bank of Kenya acting in its capacity as the fiscal agent of the Republic of Kenya is offering the investing public an opportunity to invest in a fixed twenty-year Treasury bond," said the bank in a notice Monday.

The bond has a 13.2 percent fixed rate, which gives investors higher yields, and would be sold until July 26.

Kenya's internal debt currently stands at nearly 25 billion U.S. dollars.
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