Why Kenya is considering a Eurobond buyback

IMF and World Bank are working to review the DSA framework for low-income countries within the next two years.

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President William Ruto last week revived Kenya’s hopes to buy back its 2014 debut Eurobond, after setting a new date for the buyback between February and March, bringing the sovereign bond buyback debate back into prominence.

What is a buyback?

From the context of the sovereign (Kenya), a buyback describes the process by which the repurchase of issued securities from holders or investors before the set maturity debt is done by the issuer. In the case of the 2014 Eurobond, a buyback implies that Kenya is seeking to buy out some of the Sh320.7 billion ($2 billion) noteholders before the maturity of the bond on June 24.

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