Nairobi, March 14 -- Kenya's Treasury will tap concessional external loans to fund the KSh259 billion ($2 billion) bullet repayment of its debut Eurobond due in the next financial year starting July 2024.

Kenya's Treasury Principal Secretary Chris Kiptoo told the country's members of parliament that the international sovereign bond of $2 billion (KSh259 billion) issued in 2014 will be falling due during the 2023/24 financial year.

Dr Kiptoo told Kenya's National Assembly's committee on Public Debt and Privatization that the country was expected to repay Eurobond debts of KSh254.16 billion ($1.96 billion) in 2024, KSh114.37 billion ($880 million) in 2027 and KSh127.08 billion ($978 million) in 2028.

Kiptoo told the committee chaired by ...