Kenya holds back DFI loan syndication

Africa lake px 230 for gc
By Bianca Boorer
16 May 2017

Kenya’s $500m loan from development financial institutions (DFIs) will be syndicated six months from its signing date, to avoid clashing with the country's commercial loan of $1bn from international banks, according to one of the bankers on the deal.

“The DFI syndicate [was] directed by the government of Kenya to hold on to our assets for a six month period so as not to disrupt the market by both selling at the same time. The markets will be able to absorb our down-sells without strain,” the banker said.

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