Kenya is set to pay dearly to avert a default of the $2 billion Eurobond maturing in June after it settled on a higher rate on its return to the global debt market to finance an early buyback. The East African nation has offered investors 9.75 percent on its new seven-year $1.5 billion Eurobond, which is more expensive than what Benin and Côte d'Ivoire got in their bonds issued in the past three weeks.
