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NAIROBI: Kenya's central bank offered for sale on Friday a 7-year infrastructure bond worth up to 30 billion shillings ($289.30 million), it said.

The bond, which is used to raise funds for construction of infrastructure projects like roads, comes with a coupon rate of 12.500 percent. It will be auctioned on Nov. 22.

Kenyan infrastructure bonds are tax-free, an incentive designed to attract investors.

 

 

Copyright Reuters, 2017

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