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Interest paid on Eurobonds rises by Sh11.5 billion
The rise in debt service costs on Kenya’s Eurobond portfolio mirrors the impact of rising interest rates in the international capital markets in recent years.
Interest payments on Kenyan Eurobonds are expected to rise by Sh11.5 billion to Sh85.4 billion in the new financial year starting July 1, on a costlier sovereign bond issued earlier this year.
Debt servicing costs for the sovereign bonds are also expected to rise from Sh73.8 billion in the current financial year after the issuance of a new Sh193.9 billion ($1.5 billion) security in February at an interest rate of 9.5 percent.
