Arab Today, arab today kenya to bring forward 500m eurobond sale
Last Updated : GMT 12:46:35
Arab Today, arab today
Arab Today, arab today

Kenya to bring forward $500m Eurobond sale

Arab Today, arab today

Arab Today, arab today Kenya to bring forward $500m Eurobond sale

Nairobi - Arabstoday

Kenya may bring forward a planned sale of at least $500 million (Dh1.83 billion) in Eurobonds to this fiscal year from 2012-13 to benefit from lower offshore borrowing costs. \"We are considering doing it this fiscal year,\" Henry Rotich, the Treasury\'s deputy director of economic affairs, said yesterday in a phone interview from Nairobi, the capital. \"Low interest rates in the US\" have spurred the department to revisit its plan, and pricing will be determined when a lead manager is appointed and officials meet with investors, he said. The US Federal Reserve in August pledged to keep its benchmark interest rate at a record-low 0.25 per cent at least through mid-2013 to revive its economic recovery. Kenya raised its benchmark interest rate for the third time this year yesterday to help curb inflation which accelerated to 16.7 per cent in August, more than triple the 5 per cent target. Kenya in June said it may revive plans to sell dollar- denominated debt international markets after shelving plans more than three years ago as the global financial crisis seized credit markets. The country joins other African nations such as Zambia, Angola and Rwanda that intend to raise capital in the global markets. Kenya is rated B+ at both Standard & Poor\'s and Fitch Ratings, the fourth-highest junk assessment by both companies, placing it on par with Cape Verde and Zambia. Kenya needs financing to tackle the worst drought in 60 years, meet growing wage demands after hiring thousands of new teachers, and increase spending on service delivery in line with surging inflation, Finance Ministry Economic Secretary Geoffrey Mwau said on Wednesday. Kenya\'s debt-servicing costs budgeted for in the current fiscal year are proving to be \"significantly higher\" due to an unexpected weakening in the shilling and soaring interest rates, Mwau said. The currency has slid 15 per cent against the dollar this year, making it the worst performer worldwide after Uganda\'s shilling. Kenya\'s currency climbed 0.3 per cent to 94.93 in Nairobi yesterday. Six-month borrowing costs rose to 11.935 per cent at a treasury-bill auction on Wednesday, the highest in a decade.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today kenya to bring forward 500m eurobond sale Arab Today, arab today kenya to bring forward 500m eurobond sale

 



Arab Today, arab today
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 11:50 2017 Wednesday ,22 February

Most Asia markets up as Hong Kong rebounds

GMT 20:52 2017 Tuesday ,21 February

Asia stocks consolidate recent gains; China shines

GMT 10:37 2017 Tuesday ,21 February

Most Asia markets up as rally presses ahead

GMT 05:34 2017 Tuesday ,21 February

7 firms to list on 2nd Saudi stock board

GMT 19:53 2017 Monday ,20 February

Large stocks fall pushing down Nairobi bourse

GMT 18:36 2017 Monday ,20 February

Heavy selling drags Oman shares lower

GMT 06:16 2017 Monday ,20 February

Bank shares lift Tadawul
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday