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Thugge rules out new sovereign bond as Sh296b payment nears

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Central Bank of Kenya (CBK) Governor Kamau Thugge. [Boniface Okendo, Standard]

Kenya has ruled out issuing a new Eurobond to refinance the $2 billion (Sh296 billion) Eurobond that is just seven months away from maturing in June next year.

The government now says the global credit market conditions are not conducive for the issuance.

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