Kenya infrastructure bond auction attracts $430.4m
Kenya's infrastructure bond auction attracted bids worth Ksh37.62 billion ($430.4 million), almost double the amount that the banking regulator was seeking. The Central Bank of Kenya (CBK) was selling debt worth Ksh20 billion ($228 million) through the infrastructure bond, the first to be floated in two years. The government intends to spend the proceeds to fund water, sewerage and irrigation projects, transport infrastructure and energy projects.
Its prospectus showed that the government is intending to spend Ksh10.1136 billion ($115.5 million) from the proceeds to fund water, sewerage and irrigation projects, Ksh14.2784 billion ($163.09 million) to develop transport infrastructure and Ksh11.6334 billion ($132.8 million) for energy projects. CBK last sold an infrastructure bond in October 2011 when it issued Ksh14.13 billion ($140.71 million) in debt to fund various projects country wide.... Read the full, comprehensive news article and discuss at East AfricanSimilar Stories