Nairobi, Feb. 14 -- Kenya is set to pay dearly to avert a default of the $2 billion Eurobond maturing in June after it settled on a higher rate on its return to the global debt market to finance an early buyback. The East African nation has offered investors 9.75 percent on its new seven-year $1.5 billion Eurobond, which is more expensive than what Benin and Cote d'Ivoire got in their bonds issued in the past three weeks.

Read more HERE

Published by HT Digital Content Services with permission from Business Daily....