Kenya launches 901-mln-USD Eurobond buyback to ease debt burden

NAIROBI, Feb. 25 (Xinhua) -- Kenya on Tuesday announced a plan to buy back a 116.7 billion shilling (about 901.8 million U.S. dollars) note, which was part of its 2.1 billion dollar Eurobond issued in May 2019.

The proceeds from the Eurobond will be used to retire part of the debt, the National Treasury said in a statement issued in Nairobi, Kenya's capital, adding that existing bondholders of the 2019 note would be given priority during the purchase.