Kenya Repurchases $628.44 Million of 2028 Eurobond
Kenya has successfully concluded a tender offer for its 2028 Eurobond, repurchasing $628.44 million (Ksh. 81.2 billion) of the bond.
This liability management exercise was financed using proceeds from the country’s recent $1.5 billion (Ksh 193.9 billion) dual-tranche Eurobond issuance on the international markets.
- The buyback effort was launched on October 2, 2025, and closed on October 9.
- The government accepted tenders for more than 60% of the $1,037.50 per $1,000 of the bond’s principal amount, plus accrued interest.
- All valid tenders received were accepted in full, with no proration applied.
The repurchase is a key component of Kenya’s broader debt management plan designed to smooth its Eurobond maturity profile and mitigate refinancing risks associated with upcoming large debt redemptions.
Author's summary: Kenya repurchases $628.44 million of 2028 Eurobond.