Capital Markets

New Eurobond seen easing pressure on domestic debt interest rates

new cbk photo

The Central Bank of Kenya in Nairobi County on January 28, 2024. PHOTO | DENNIS ONSONGO | NMG

Kenya’s return to the international bonds market on Monday is set to relieve pressure on local lenders to finance the budget deficit for the current fiscal year, signalling a potential retreat in domestic debt interest rates that have climbed to 18 percent.

The Treasury is selling its first Eurobond since June 2021 when it floated a 12-year paper that raised $1 billion (Sh159 billion).

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