The Kenyan government announced a tender offer for two outstanding Eurobonds totaling Ksh283.8 billion to manage external debt and smooth repayment schedules.
A London Stock Exchange notice indicates the offer covers Ksh154.8 billion maturing in 2032 and Ksh129 billion due in 2028.
Authorities revealed intentions to issue smaller increments of fresh dollar-denominated debt aimed at refinancing existing liabilities and easing upcoming repayment pressures.
National Treasury Cabinet Secretary John Mbadi confirmed last week that Kenya is considering new Eurobond offerings as part of broader debt management strategy to prevent repayment shocks and preserve investor confidence.
This follows two similar bond operations last yearFebruary and Octoberwhere the government issued new Eurobonds to repurchase maturing debt, calming concerns about imminent June 2024 obligations that had raised default anxieties.
Those concerns previously drove bond yields upward and pressured the Kenyan shilling to a historic low of Ksh163.98 against the U.S. dollar in February 2024.
The latest refinancing initiative could stabilize Kenya’s debt markets while balancing development funding against rising repayment costs.
Though the size and interest rates for new issuances走过来 remain undisclosed, officials indicate the borrowing structure will prioritize reducing refinancing vulnerabilities.
The tender offer will close on February 25, after which the Treasury plans to disclose results and detail how upcoming debt issuance符 aligns with fiscal planning.
Kenya’s Eurobond strategy is under careful observation by investors and ratings agencies due to implications for debt sustainability and international market access.