Kenya says to sell 25-year infrastructure bond this month

Reuters

Central Bank of Kenya Governor Dr. Patrick Njoroge. [Photo: Courtesy]

NAIROBI- Kenya will sell a 25-year amortized infrastructure bond this month to raise up to 50 billion shillings ($500.25 million), the central bank said on Friday. The bond, which will be auctioned on March 20, will come with a coupon of 12.200 percent, the central bank said, adding that it be tax free in line with the government’s policy of encouraging investors to bank infrastructure bonds.