Kenya to buy back Sh117bn Eurobond ahead of maturity

BDEurobond

Kenya is set to buy back a Sh116.7 billion seven-year tranche of the Sh271.76 billion Eurobond issued in May 2019.

Photo credit: Shutterstock

Kenya is set to buy back a $900 million (Sh116.7 billion) seven-year tranche of the $2.1 billion (Sh271.76 billion) Eurobond issued in May 2019, using the proceeds of a proposed new bond of a longer tenor.

Bond buybacks enable issuers to retire an outstanding debt before its maturity date against a cash payment.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.