Why Kenya plans to sell 25-year infrastructure bond this month

PUBLISHED: Fri, 01 Mar 2019 12:04:21 GMT

NAIROBI (Reuters) – Kenya will sell a 25-year amortized infrastructure bond this month to raise up to 50 billion shillings ($500.25 million), the central bank said on Friday.

The bond, which will be auctioned on March 20, will come with a coupon of 12.200 percent, the central bank said, adding that it be tax free in line with the government’s policy of encouraging investors to bank infrastructure bonds. .

($1 = 99.9500 Kenyan shillings)

Reporting by Duncan Miriri

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