This archive report was first published on 1 June 2021.
On June 1, 2021, Kenya announced its plan to issue a $1 billion Eurobond, with JP Morgan Chase and Citi as the lead managers. The government aims to sell the bond by the end of June.
The East African nation is struggling to manage its liquidity, as previously issued sovereign bonds start to mature. To address this, Kenya plans to issue another euro-denominated sovereign bond in its 2021/22 fiscal year.
President Uhuru Kenyatta's administration has been working to secure cash from abroad to fill a gaping budget deficit before the end of the financial year.
There was no immediate comment from the ministry of finance regarding the Eurobond issue.
