Kenya Sells $1.5 Billion Bond as the Government Extends Debt
The Kenyan central bank in central Nairobi.
Photographer: Trevor Snapp/BloombergThis article is for subscribers only.
Kenya sold $1.5 billion of 11-year notes as part of a debt swap that will allow the country to lengthen its maturity profile.
The 9.5% note priced Wednesday at 97.2 cents on the dollar and will yield 9.95%, according to a person familiar with the matter who asked not to be identified. Demand topped out at around $5 billion.