Treasury issues new Sh194b Eurobond to repay old debt

National Treasury CS John Mbadi (centre) accompanied by Treasury PS Chris Kiptoo (left) and Economic Planning PS James Muhati (right), addresses the media outside Treasury Building, in Nairobi, on February 13, 2025. [Boniface Okendo, Standard]

The government has raised Sh194 billion ($1.5 billion) from the issuance of a new Eurobond in a move that could raise concerns about the government's borrowing appetite.

It will also reignite debate on Kenya's debt sustainability. The proceeds of the bond will be used to repay maturing debts including a $900 million (Sh116.1 billion) Eurobond issued in 2019 and is set to mature in 2027.