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Kenya courts commercial banks to settle Sh200bn debt - 1 months ago, 19 Feb 05:42

Allan Olingo

Kenya is courting commercial banks to help her pay part of the Sh200 billion debt that falls due this year after Treasury opted against tapping the Eurobond market again.

Half of the amount could be disbursed as early as next month in the form of a syndicated loan that the Trade and Development and Standard banks are arranging on behalf of the government.

“Kenya is seeking to use these funds to finance part of its expected maturities while another portion will go into funding development expenditure. This syndicate will also allow the government access to credit line for an additional $250 million (Sh25 billion) if it deems fit to tap into,” a source with knowledge of the matter said.

NEGATIVE

Kenya is staring at a Sh78.7 billion maturity next month of a loan advanced to it by Stanchart, Standard, Citi and Rand Merchant banks in March 2017, at a rate of ...
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