Kenya shrugs off terrorist attacks to make $2bn debut

By Steven Gilmore
19 Jun 2014

The Republic of Kenya ploughed ahead with a dual tranche debut Eurobond on Monday despite terrorist attacks in coastal Mpeketoni on Sunday and Monday nights. But investors still flocked to place over $8bn in orders, allowing Kenya to price a colossal $2bn for its inaugural offering.

Debt bankers on the bond considered whether or not to push ahead with the deal on Monday morning. But international accounts were already aware of the threat of terrorism in Kenya, and as the underlying demand remained strong they opted to continue, said one. In the end the ...

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