Kenya: First eurobond may be $1.5bn

Kenya planned to raise at least $1.5 billion (R15bn) in a debut dollar-denominated sovereign debt offering, Economic Secretary Geoffrey Mwau said yesterday, confirming the Treasury’s announcement last week that it would seek more than initially targeted. He said Kenya had been busy choosing lead advisers for the sale since June and once appointed, the amount and timing would be decided. On Wednesday Treasury Secretary Henry Rotich said The government might issue as much as $2bn in the eurobond market. The government expects the economy to expand 5.8 percent this year. – Bloomberg