Kenya's debt strategy shift: $2 billion Eurobond buyback explained

Kenya’s announcement of a buyback of $2 billion Eurobond due in June 2024, causing yields to plunge from 15.79 per cent to 9.96 per cent, has raised eyebrows on the next move for investors. According to the Central Bank Governor, Kamau Thugge, the buyback and new debt issuance aim to manage external debt and secure funding, with Citigroup and Standard Bank as managers. To help unpack this buyback as a debt strategy shift CNBC Africa is joined by Johnson Nderi, Corporate Finance Manager at ABC Capital from Nairobi, Kenya.
Tue, 13 Feb 2024 14:43:40 GMT