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A running file

The kenya-eurobonds file

Every Receipt on this subject, newest first. Next on the calendar: Coupon of US$73.125m due on the 2031 notes.

  • Public Money DeskReceipt

    Kenya's Eurobond rescue: US$43m a year more in interest to clear its first bond

    Our verdict · Opinion

    Kenya paid off its first Eurobond in full, but only by borrowing at 10.375%, a price that showed how close markets thought it was to the edge, and one taxpayers will pay until 2031.

    In February 2024 Kenya sold a US$1.5 billion bond at 10.375% to buy back most of a US$2 billion bond that cost 6.875%. The default scare ended. The interest bill went up, and it stays up until 2031.