Kenya: Eurobond ‘will cut borrowing’

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The successful launch of Kenya’s debut $2 billion (R21bn) eurobond would cut the government’s local borrowing requirement, which would in turn help reduce interest rates, President Uhuru Kenyatta said yesterday. “By accessing these external funds, we will reduce government borrowing from the domestic markets, thereby helping drive down interest rates which should boost investment, spur economic growth, provide more employment opportunities to our people,” Kenyatta said. Officials also said that the eurobond would provide benchmarks for Kenyan companies seeking funds on international markets. – Reuters

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