Taxpayers have incurred a cost of Sh7.3 billion as an incentive offered to investors for early buyback of two existing Eurobonds and issuance of longer-term replacement bonds to fund it.
The incentives are a price discount to investors who bought the country’s $2.25 billion (Sh290.3 billion) bond last week and a premium offered in the buyback of $500 million (Sh64.5 billion) from owners of the debt.
