- Kenya has secured KSh290 billion through a new Eurobond sale in international markets.
- The funds will help refinance debts maturing in 2028 and 2032.
- The bond was issued in two parts: seven-year and 12-year tranches.
- Treasury says investor demand was strong, with offers exceeding the target amount.
- The move supports Kenya’s plan to manage public debt and prepare for the 2026/2027 budget.
Kenya has successfully tapped international investors once again, raising Ksh290 billion to manage upcoming external debt repayments.
In a statement released on Friday, February 20, 2026, the National Treasury confirmed the pricing of a new dual-tranche Eurobond valued at $2.25 billion. The funds will mainly go toward refinancing Eurobonds that mature in 2028 and 2032.
Officials said part of the proceeds will also help cover the budget gap as the country prepares for the 2026/2027 financial year.
The Treasury structured the borrowing into two segments. The first tranche raised Ksh116 billion through a seven-year bond, while the second brought in Ksh168 billion with a 12-year bond.
According to the government, investor appetite was strong. The order book reportedly surpassed the amount Kenya was seeking, signalling confidence from global lenders.
This latest borrowing is part of a broader plan to reduce pressure from large lump-sum repayments in the future. By extending maturities, the government aims to spread out repayment timelines and manage debt obligations more smoothly.
Treasury officials say the approach is designed to stabilise Kenya’s external debt profile and lower refinancing risks.
Kenya’s return to the market comes at a time when international lending conditions have shown signs of improvement. Compared to previous years, access to global financing has become slightly more favourable.
Other African nations, including the Ivory Coast and Congo, have also taken advantage of the improved environment to issue bonds in recent weeks.
With the fresh funds secured, Kenya now shifts focus to maintaining investor confidence and ensuring that debt remains sustainable as the country moves closer to the next budget cycle.
