Kenya extends loan after election violence

Kenya sunset px230 for gc
By Bianca Boorer
29 Aug 2017

Kenya has opted to extend a $750m loan which is due to mature in two months, due to the onset of violence after its election result making alternative funding difficult.

“Issuing a bond around election time would be impossible so we built in a six month extension,” said a banker on the deal. “We experienced that on the previous deal.”

In October 2015 Kenya signed a $750m syndicated loan, which grew from an initial launch amount of $600m boosted ...

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