(Adds co-arrangers, rating)
NAIROBI Oct 23 Kenya is in the final stages of
mandating JP Morgan as lead manager for a debut Eurobond
of up to $2 billion in size, the country's finance minister said
Plans for the east African country to sell an international
bond have been delayed several times since 2007, mainly due to
political turmoil at home and financial crises abroad.
"We are negotiating a mandate letter with JP Morgan with a
view of course to sign a contract," Henry Rotich told Reuters by
telephone. The deal is likely to be signed in a week, he said.
The minister said among the points being finalised with JP
Morgan include co-arrangers, an issue that the government has
left to JP Morgan's discretion.
"The negotiations is to agree on the partners they are
bringing on board and also to sign the contract with them," he
The contract was likely to be signed as early as next week,
Rotich added. Kenya is rated B1/B+/B+.
(Reporting by Duncan Miriri; Editing by George Obulutsa, Ron