Yields on Kenya’s Eurobonds fell by up to 0.6 percentage points following the upgrade of its credit rating by global agency S&P last Friday, indicating improved investor sentiment towards the country ahead of planned external debt refinancing next month.
Kenya’s seven outstanding Eurobond tranches worth a cumulative $7.41 billion (Sh958 billion) are listed on the London and Irish stock exchanges, with their secondary market yields serving as a barometer of the risk rating of Kenya’s debt by international lenders.
