Kenya plans to offer dollar-denominated notes

By Marisa Wong

Los Angeles, Feb. 7 – The Republic of Kenya is planning to price an offering of new dollar-denominated notes, according to a notice.

Proceeds will be used to fund a concurrent tender offer for the republic’s 6 7/8% notes due June 24, 2024.

Holders who participate in the tender offer and wish to subscribe for the new notes may be given priority in the allocation of the new notes.

The republic said it is making the tender offer in conjunction with the offering of new notes as part of the proactive management of its external debt, specifically to smooth out the maturity profile of the notes due in June 2024.

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