Treasury plots to dodge Sh280bn Eurobond bullet payment

BDsillinganddollar

Kenya is projecting the shilling could weaken further to 150.76 by the time it is repaying its debut Eurobond in June 2024. FILE PHOTO | SHUTTERSTOCK

Kenya’s plan to buy back at least half of its Sh280.8 billion ($2 billion) debut Eurobond that matures in June next year is expected to ease fiscal pressures resulting from the big-ticket redemption.

The move effectively splits the redemption in half, lessening the burden on the exchequer which would have otherwise been required to make a sizable bullet payment to the sovereign bond investors in one go.

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