Government signs Sh61 billion loan with international financiers

Nairobi, Kenya: Citi, Standard Bank and Standard Chartered Bank as Bookrunners and Mandated Lead Arrangers (the “Bookrunners”) are pleased to announce the successful signing of a US$600,000,000 Syndicated Medium Term Loan Facility (the “Facility”) for the Government of the Republic of Kenya, acting through the National Treasury of the Republic of Kenya (the “National Treasury”).

The Facility, which has a two year tenor, has been fully underwritten by the Bookrunners, and was launched into general syndication to international financial institutions on Thursday, 29th October 2015.

The Facility is the National Teasury’s second international syndicated loan financing. The proceeds from the Facility will be used by the National Treasury to fund costs approved by Parliament in the Fiscal Year 2015/16, including infrastructure development projects in the road, energy, agriculture and water sectors.