Kenya prices US$2.25bn dual‑tranche Eurobond, 7.875% 2034 tranche priced

On 4 March 2026 Kenya re‑entered international markets with a US$2.25 billion dual‑tranche Eurobond; the sale included a US$900 million seven‑year tranche priced at 7.875% maturing in 2034, according to the Treasury announcement and press coverage.

Higher US Treasury yields and hawkish Fed pricing raise the discount rate applied to Kenyan USD Eurobonds, increasing required yields for new issues. That effect is likely to be most pronounced at the belly and long end of Kenya’s USD curve, potentially widening new‑issue concessions versus East African peers and raising borrowing costs for planned follow‑on issuance.

Treasury decision and timing on the proposed Ksh145.6bn (USD1.12bn) Eurobond in the 2026/27 financing plan.