Kenya Government issues the Second Infrastructure Bond. 16 Nov 09 The Central Bank of Kenya as a fiscal agent for the Republic of Kenya invites bids for the Second Infrastructure Bond. The 12 - year fixed coupon issue is dated November 30, 2009. The earnings from the 18.5 billion bonds will be used to finance Infrastructure Projects in the following areas during the Financial Year 2009-10.
To finance Infrastructure Projects in the following sectors during the Financial Year 2009-10: 1) Water, Sewerage and Irrigation: Construction of water Supplies in 186 districts (Ksh 1,488.8mn); Water Conservation and Construction of dams in 57 districts (Ksh 2,895.2mn); and Construction of Sewerage in 29 districts (Ksh 78mn)
2) Roads: Construction of new roads in 23 districts (Ksh 5,000.00 mn); Overhaul & Refurbishment of civil works in 44 districts (Ksh 4,000.00 mn)
3) Energy: Geothermal Resources and Exploration (Ksh 3,505.00mn); and Rural Electrification for 130 districts (Ksh 1,533.00mn)12.00% p.a. payable semi-annually on outstanding principal amount.
The bond will be on sale from 12th - 24th November, 2009
