Kenya’s planned eurobond offering could be a sukuk

By Christine Van Dusen

Atlanta, Jan. 26 – Kenya’s upcoming offering of notes could take the form of Islamic bonds, a market source said Tuesday.

The proceeds will be used to finance infrastructure projects.

The sovereign previously announced plans to print eurobonds. That announcement came as Kenyan officials denied that about $999 million in proceeds from its $2.82 billion bond sale in 2014 had been stolen.

Other details of the new bond sale were not immediately available on Tuesday.

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