(Bloomberg) -- Kenya plans to raise 50 billion shillings ($377 million) by selling additional infrastructure bonds next month, according to people familiar with the matter.
The government will reopen two tax-free securities it sold last year, the people said, asking not to be identified because the information isn’t public yet. The offering seeks to attract inflows to shore up Kenya’s currency, the people said.
The Central Bank of Kenya is expected to announce the offer in the coming days, and terms of the bond may change, according to the people. The bank said by email that all Kenyan Treasury bill and bond auctions are published on its website, without commenting further.
The shilling is one of the world’s worst-performing currencies so far this month, after weakening 2.5% on investor concerns about the impact of anti-government protests that have continued for the past six weeks. Kenyan infrastructure bonds are attractive to investors because their returns are tax-exempt.
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