Standard Bank has completed the repayment of Kenya’s $1.5 billion Eurobond, which was expected to mature in June this year.

According to the lender, this is Kenya’s first transaction since 2021, even as she looks to diversify its funding sources and return to the capital markets.

In November last year, the government picked the bank and Citi as a joint deal manager for Kenya’s Eurobond repayment.

Stanbic Bank Kenya and South Sudan Chief Executive Joshua Oigara said the lender was proud to have facilitated this Eurobond for Kenya.

|”The significant demand we saw for the bond reflects investors' growing confidence in Kenya. We are enthusiastic about the renewed access to capital markets, the overall success of the transaction and the growth this enables,” he said.

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“A deep understanding of Kenya’s economy, regulations and people are at the heart of everything we do at Standard Bank. It is encouraging to see the investor community take note of the opportunity the country represents.”

Recently, Kenya successfully raised $1.5 billion to repay a previous Eurobond to mature on June 24, 2024.

The Eurobond, which closed on February 16th, was priced at a yield of 10.375 percent with a 9.75 percent coupon.