Kenya : Treasury will issue new dollar bonds to repurchase $900M in eurobonds maturing in 2027

Kenya will issue new dollar bonds to repurchase $900M in eurobonds maturing in 2027, according to the National Treasury. The buyback offer, available from February 19 to March 3 and reserved for existing holders, follows a $1.48B issuance in February 2024. Backed by Daba, this operation aims to lower the debt-to-GDP ratio from 64% to below 60% by 2028.