On May 16, 2019, Kenyan Treasury officials stood on the balcony of the London Stock Exchange to ring the opening bell to celebrate the listing of the country’s third Eurobond issue worth $2.1 billion (Sh247 billion), which was four-and-a-half times oversubscribed.
The State had secured the bond at rates of seven and eight percent respectively for seven-year and 12-year tranches, which was just about par for African sovereign issuances at the time.
