This archive report was first published on 15 June 2021.
Published on June 15, 2021, Kenya has embarked on a significant financial move by appointing Citi and JP Morgan as joint book-runners for a dollar-denominated sovereign bond issue.
The bond, which will have a 12 to 15-year tenor, is part of the country's efforts to manage its debt and secure funding for its development projects.
Kenya's Debt Profile ¶
According to the National Treasury and Planning's 2021 Medium Term Debt Management Strategy, domestic debt accounts for KSh 1,019.4 billion, while external debt accounts for KSh 194.7 billion.
The profile shows a relatively smooth repayment structure, with maturities spread out in future years, except for those in 2024 and 2028 relating to international sovereign bonds.
High maturities of both domestic and external debt are observed in 2024 and 2028, associated with the upcoming retirement of International Sovereign bonds issued in 2014, 2018, and 2019, as well as Treasury bills and bonds due in the same period.
