October 29, 2015 / 10:40 AM / 4 years ago

Kenya secures rate of 5.7 pct on syndicated loan, says official

NAIROBI, Oct 29 (Reuters) - Kenya secured an interest rate of 5.7 percent on a two-year, $750 million syndicated loan, a senior Finance Ministry official said on Thursday.

“This will help us address some of the interest rates pressure, which was the intention of going for the syndicated loan,” Kamau Thugge, principal secretary at the Finance Ministry, told Reuters. The government has said it wanted to seek external funding to avoid driving local rates up further.

Reporting by Duncan Miriri; Writing by Edmund Blair; Editing by George Obulutsa

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