Kenya Electricity Generating considers $1 billion bond offering

By Christine Van Dusen

Atlanta, Aug. 19 - Kenya Electricity Generating Co. Ltd. (KenGen) is considering a $1 billion bond issue, a market source said.

Proceeds would be used to finance the company's $4.5 billion expansion plans.

No information on the timing of the offering was immediately available.

KenGen has recently made news for seeking to reduce the sovereign's stake in the company from 70% to 51%

KenGen is a power producer based in Nairobi, Kenya.

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