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NAIROBI: Kenya will sell a 15-year infrastructure bond this month to raise 40 billion shillings ($388.35 million), the central bank said on Tuesday.

The bond, which is tax-free to encourage investors, will carry a coupon of 12.5 percent, the bank said in a prospectus. Marketing for the Jan. 24 sale started on Tuesday.

Funds raised using infrastructure bonds are earmarked for construction projects such as building roads.

 

 

Copyright Reuters, 2018

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