Mnaona jabass taking it to avoid eating humble baada ya kujigaba vile anarudi international markets, so he will take it at all costs NB if he goes through with it it’ll be the most expensive bond issue in Africa, sio kama ile ya Benin at 8% ilimpea hopes. Note also this bond is unsecured. So na kibelebele mihahe yake either take a very expensive bond, take % part of it, or tuck his tail between his legs and high tail out of the international markets and become a laughing stock internationally, hata hao wazugu waone the liar we have in chief. Na kuna bankers wamelipwo mirrions of dorrars whether the sale goes through or not. Must be very niiiiiiice!!!
Let me try explain it, $2birrions eurobod 2014 that we’re struggling to retire was borrowed at about 6.8% while the Kes was doing about 90 to the $. So it has matured na unajua hatuna forex ya kulipa, so jabass na kiherehere na muhahe says in the international markets that we will settle about $300M in December, alidaganya hivi parliament state of the nation. For some weird reason hawakupeana that never went through, all they said is that the TA- Transactional Advisors told him to delay, these are bankers btw. I think what happened is that the markets rallied to drive up the redemption value upon hearing jabass lie to them that Dec they will buy back $300M. So wakaacha. Kidogo kidogo pale West Africa, Benin Na countries kadhaa wakarudi international markets na Eurobond zao, that were pegged at an average of 8% these are single digit %, na ukumbuke jabass lied that we will never at double digits. So hii ikampea hopes that he will be able to retire the 2014 Eurobond at similar single digit rates, though it was very skeptical for anyone who looked at Kenya’s macroeconomics, they’re still on shaky ground with consistent revenue shortfalls, lack of forex and debt situation aggravated by weak shillings @160 to the $. So wakati they have floated the 2024 Eurobond to retire the 2014 bond that was at 6.8% markets zikasema we will give you money but at 11% which is extremely expensive @500bps points over the 2014 one. So here we are, do we take the money and show desperation, of which we are or do we hold our head high and hope and pray the feds will cut rates in about 3 weeks time we sneak back to the markets then hopefully with better rates. Hope it’s clear now
ohhh now i get it… nilikuwa nimemumunya captain morgan jana so tuseme jambass is intentionally screwing the tax payer firweni… come to think of it, ksh has gained a little. is this the calm before the shit storm?