Kenya has launched a buyback for its $900 million Eurobond due in May 2027, financing it through a new bond issuance. The buyback offer will run until March 3, with results announced on March 4. This strategy is part of efforts to improve the country’s debt maturity profile and has positively impacted Eurobond trading.
The government of Kenya has initiated a buyback offer for its $900 million Eurobond maturing in May 2027, as disclosed in a recent regulatory filing. This strategic move aims to enhance the management of its external debt maturity profile by utilizing the proceeds from a newly issued bond to finance the buyback.
In summary, Kenya’s government is actively taking steps to improve its debt maturity profile through a buyback initiative for a 2027 Eurobond. This financial maneuver is expected to bolster investor confidence and stabilize the country’s currency. The anticipated tender results and settlement dates highlight the government’s commitment to effective debt management.
Original Source: www.tradingview.com
