(Ecofin Agency) - Kenya will issue Ksh50 billion ($489 million) of domestic bonds to fund infrastructure projects, a release published by Central Bank of Kenya on November 12, 2018, informed.  

These bonds which are to be issued on November 14, 2018, will have a maturity period of 20 years with an 11.950% coupon. The proceeds of this issuance will be used to finance the construction of a road and water adduction as well as electricity projects, the same source revealed.

Late October 2018, the public treasury announced its intention to issue Eurobonds and take syndicated loans to raise about $2.8 billion in the framework of the "Big Four" agenda of the president Uhuru Kenyatta: affordable houses, food security, industrialization, and health access.

According to the International Monetary Fund’s estimates, Kenya’s public debt should average 63.2% of GDP by the end of 2018 against 58% a year earlier.