News
04:42
Thursday January 24, 2019-Kenya has embarked on a hunt for
another Eurobond valued at Kshs250 billion.
Already, Treasury
Cabinet Secretary, Henry Rotich, has sent out proposal
seeking advice from international banks over the loan expected before the end
of the current financial year.
Cabinet Secretary, Henry Rotich, has sent out proposal
seeking advice from international banks over the loan expected before the end
of the current financial year.
“We have received the RFP documents as we study the market but they do not
set the rates or the tenors for the Eurobond.”
set the rates or the tenors for the Eurobond.”
“The minimum we expect the Treasury to
raise is Ksh150 billion,” said the local banks linked to international
lenders.
raise is Ksh150 billion,” said the local banks linked to international
lenders.
According to the banks,
the State is likely to prefer this kind of loan since it is cheaper compared to
the syndicated type it borrowed last time.
the State is likely to prefer this kind of loan since it is cheaper compared to
the syndicated type it borrowed last time.
The loan is,
reportedly, expected to partly repay the Kshs150 billion Eurobond while the
rest finances the national budget.
reportedly, expected to partly repay the Kshs150 billion Eurobond while the
rest finances the national budget.
This is even
as the first Eurobond still remains a mystery as Kenyans cannot pin point the
exact projects that the money funded.
as the first Eurobond still remains a mystery as Kenyans cannot pin point the
exact projects that the money funded.
But Kenyans
are excited nonetheless after the appointment of the no nonsense Interior CS,
Fred Matiang’i, as Chief Minister in charge of all Government projects and hope
that he will oversee the prudent use of the Eurobond loan.
are excited nonetheless after the appointment of the no nonsense Interior CS,
Fred Matiang’i, as Chief Minister in charge of all Government projects and hope
that he will oversee the prudent use of the Eurobond loan.
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