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Issuer developmentsKenyaVerified brief

Kenya plans US$815m Eurobond in Q2 of FY2026/27, per Treasury borrowing plan

On August 14, 2026, Kenya’s Ministry of Finance published its FY2026/27 Annual Borrowing Plan announcing a planned US$815 million Eurobond issuance in the second quarter of the 2026/27 financial year (FY2026/27). The move formally adds a hard‑currency Eurobond to the government’s external financing pipeline for FY2026/27.

MSA Market DeskEvent 14 August 2026Reviewed 2 min read

The desk brief

On August 14, 2026, Kenya’s Ministry of Finance published its FY2026/27 Annual Borrowing Plan announcing a planned US$815 million Eurobond issuance in the second quarter of the 2026/27 financial year (FY2026/27). The move formally adds a hard‑currency Eurobond to the government’s external financing pipeline for FY2026/27.

A planned US$815m Eurobond would add commercial USD supply to Kenya’s external debt profile, concentrating medium‑to‑long external duration and refinancing needs on its USD curve. Market impact will depend on issue tenor, coupon and book composition; those details will determine secondary‑market spread moves, foreign investor allocation across EM sovereigns, and potential pressure on FX reserves if issuance conditions change.

Publication of the Eurobond prospectus/launch announcement with issue date, tenor and bookrunners.

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Supported by 3 independent publishers.

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Price Discovery

Kenya sovereign curve

Latest server-calculated mid yield by maturity. Points are observed Price Discovery levels, not an interpolated valuation curve.

11 priced bonds
10.89%9.66%8.44%7.22%6.00%20272032203720422048Kenya 27 · May 2027 · 6.647%Kenya 28 · Feb 2028 · 7.189%Kenya 31 · Feb 2031 · 8.149%Kenya 32 · May 2032 · 8.952%Kenya 33 · Oct 2033 · 9.153%Kenya 34 Jan · Jan 2034 · 9.338%Kenya 34 Feb · Feb 2034 · 9.792%Kenya 36 · Mar 2036 · 9.944%Kenya 38 · Oct 2038 · 10.204%Kenya 39 · Feb 2039 · 10.239%Kenya 48 · Feb 2048 · 9.964%
Move across the curve to inspect a bondAs of
BondMid pxYield
  • Kenya 27May 2027100.1886.647%
  • Kenya 28Feb 2028100.0637.189%
  • Kenya 31Feb 2031104.5008.149%
  • Kenya 32May 203296.5008.952%
  • Kenya 33Oct 203394.2509.153%
  • Kenya 34 JanJan 203484.2509.338%
  • Kenya 34 FebFeb 203491.1259.792%
  • Kenya 36Mar 203697.5009.944%
  • Kenya 38Oct 203890.87510.204%
  • Kenya 39Feb 203989.81310.239%
  • Kenya 48Feb 204884.9389.964%

Indicative levels only. Full bid/ask context and trading actions remain inside MSA Trader.

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