NAIROBI (Reuters) -Kenya raised $1.5 billion via new 7-year 7.875% and 12-year 8.8% bonds the finance ministry said on Friday, as part of an effort to push out its debt maturities and cut its refinancing costs.
In a statement, the head of Kenya’s Treasury Chris Kiptoo, said the combined 8.7% interest rate was 1% lower than it would have paid at the start of the year, while there had been strong investor demand with offers of over $7.5 billion.
(Reporting by Duncan Miriri; editing by Marc Jones)
