Kenya gets $1b syndicated loan from banks

Kenya borrowed $1 billion via a syndicated loan from commercial banks, $200 million more than anticipated, Thomson Reuters publication IFR reported on Friday.

Kenya said in March it was raising a total of $1.55 billion in syndicated loans, with $800 million coming from commercial banks and the rest from development finance banks.

The $1 billion loan was split into a two-year tranche and a three-year tranche, IFR cited bankers as saying.