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Kenya gets $1 bln syndicated loan from commercial banks -IFR
May 12, 2017 / 10:29 AM / 7 months ago

Kenya gets $1 bln syndicated loan from commercial banks -IFR

NAIROBI, May 12 (Reuters) - Kenya borrowed $1 billion via a syndicated loan from commercial banks, $200 million more than anticipated, Thomson Reuters publication IFR reported on Friday.

The East African nation said in March it was raising a total of $1.55 billion in syndicated loans, with $800 million coming from commercial banks and the rest from development finance banks.

The $1 billion loan was split into a two-year tranche and a three-year tranche, IFR cited bankers as saying. The loan was arranged by Citigroup, Rand Merchant Bank, Standard Bank and Standard Chartered Bank.

Kenyan government officials did not respond immediately to a request for comment from Reuters.

Reporting by Duncan Miriri; editing by John Stonestreet

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