NAIROBI: Kenya is offering a 12-year bond worth up to 20 billion shillings ($229 million) to fund infrastructure projects for issue on Sept. 30, the Central Bank of Kenya announced in newspapers on Tuesday.

The amortised bond to fund water, sewerage and irrigation projects will have a fixed coupon of 11 percent a year, payable semi-annually on the outstanding principal. Bids are due by 2 p.m. (1100 GMT) on Sept. 24 for auction on Sept. 25.