Kenya Plans to Refinance Eurobonds, Renegotiate Bank Loans

Kenya plans to refinance several eurobonds falling due over the next nine years to help spread out repayments, according to Treasury Secretary John Mbadi.

“The best way to deal with the eurobonds is the way we dealt with the 2027s,” he said in an interview in the capital, Nairobi, on Wednesday. He was referring to February’s sale of $1.5 billion of 2036 eurobonds, the proceeds of which were used to retire securities that were falling due in two years.