Kenya will take a Sh10.3 billion hit from higher interest rates on a new dollar bond tapped Wednesday to repay a cheaper $900 million Eurobond due from May.
The Treasury raised $1.5 billion (Sh193.95 billion) from the sale of an 11-year sovereign bond at an interest rate of 9.5 percent, with investors willing to lend Kenya $4.9 billion (Sh633.6 billion), attracted by the high returns.
