Browsing: Kenya’s $2Billion Eurobond Cleared Three Days to Deadline

• Kenya’s $2billion Eurobond was set to mature on June 24, 2024
• This is an increase of $1.31 billion (Sh168 billion) to reach US$8.32 billion (Sh1.07 trillion).
• Kenya had earlier indicated the outstanding amount would be retired through a mix of syndicated, multilateral & domestic financing.

Kenya has cleared the remaining $556.97 million (Sh71.5billion) of the $2billion (Sh257billion) Eurobond that was due by June 24, 2024.  Figures by the National Treasury’s Public Debt Management Office indicate that says the outstanding note was settled on Friday, June 21, three days ahead of the maturity date.

The repayment has seen Kenya’s National Reserves move above the four-month statutory requirement for the first time in five months.

“The usable foreign exchange reserves remained adequate at $8.32 billion equivalent to 4.3 months of import cover as of June 20. This meets the CBK’s statutory requirement to endeavor to maintain at least 4 months of import