Kenya plans US$815m Eurobond in Oct–Dec 2026 as part of 2026/27 borrowing plan

On 14 August 2026 Kenya’s Treasury published its 2026/27 borrowing plan that includes a US$815 million Eurobond pencilled for the second quarter of the fiscal year (October–December 2026). The disclosure formalises the sovereign’s intent to access international dollar markets in that window.

A pencilled US$815m Eurobond concentrates rollover and financing risk in Kenya’s external curve, particularly the sovereign belly and long end. Execution will depend on global benchmark yields and investor demand; adverse global rate moves or weak IMF/funding progress could force a delay or wider spread, increasing borrowing costs and rollover strain.

Treasury to seek market windows and publish actual issuance timing and terms ahead of any Eurobond roadshow in Oct–Dec 2026.