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NAIROBI, June 25 (Reuters) – President Uhuru Kenyatta said on Wednesday said the successful launch of Kenya’s debut $2 billion Eurobond would cut the government’s local borrowing requirement, which would in turn help reduce interest rates.
«By accessing these external funds, we will reduce government borrowing from the domestic markets, thereby helping drive down interest rates which should boost investment, spur economic growth, provide more employment opportunities to our people,» the president told a news conference.
Officials also said the Eurobond, which has five- and 10-year tranches, would also provide benchmarks for Kenyan firms seeking to access funds on international markets. (Reporting by Duncan Miriri and Drazen Jorgic; Writing by Edmund Blair)
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