After the Kenyan Government raised Ksh 30.57 Billion in its first 15 Year Infrastructure Bond. The government is seeking an additional Ksh 10 Billion in the market through a tap sale on the same bond.
The government intends to reach it’s Ksh 40 Bn target through this additional Ksh 10 Billion issuance. The funds are to be used in road (10Bn), energy (10Bn) and water (20Bn) projects.
The tap sale will provide an opportunity for the extra bids received in the previous sale to lock in on the 12% coupon bond.
The tap sale will run from 25th October 2016 to 3rd November 2016.
Source: (CBK, Kenyan Wall Street)
