Kenya floats tax-free infrastructure bond amid increased borrowing
NAIROBI, Jan. 25 (Xinhua) -- Kenya on Thursday put up for sale an infrastructure bond worth 70 billion shillings (about 430 million U.S. dollars) -- the largest ever in recent terms -- as the government ramps up borrowing from both domestic and external sources.
The Central Bank of Kenya (CBK) said in a notice issued in the capital of Nairobi that the bond would be tax-free and have a shorter tenor of 8.5 years.