UPDATE 3-Kenya easily raises $2.1 bln Eurobond, debt concerns linger [Reuters]
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Source: Reuters
UPDATE 3-Kenya easily raises $2.1 bln Eurobond, debt concerns linger - Reuters 4 Min Read * Issue got better pricing than expected - economist * Debt has jumped to 55% of GDP since 2013 (Adds debt level, economist’s comment) By Duncan Miriri and George Obulutsa NAIROBI, May 16 (Reuters) - Kenya raised $2.1 billion in a Eurobond issue in tranches of seven- and 12-year paper that was more than four times oversubscribed, the finance ministry said on Thursday. There has been a jump in government borrowing since President Uhuru Kenyatta came to power in 2013 - a rise that some politicians and economists say is saddling future generations with too much debt. Kenya’s public debt as a percentage of GDP has increased to 55% from 42% when Kenyatta took over. The government has defended the increased borrowing, saying the country must invest in its infrastructure, including roads and railways. The East African nation made its debut in international capital markets in the summer of 2014 with issu
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