Kenya to issue 2-year, 5-year bonds to raise Sh20 billion

Kenya will sell 2-year, and 5-year Treasury bonds on June 24 to raise a total of 20 billion shillings ($206 million) for budgetary support, the central bank said on Monday.

The bonds, which will be on sale from June 5 to June 23, will have their coupons determined by the market, the bank said in a statement. Both bonds will be subject to a withholding tax rate of 15 percent.