Kenya will offer $750 million in guarantees to Kenya Airways’ existing creditors to help the heavily-indebted carrier secure financing from other sources to complete its recovery, a cabinet document showed on Tuesday.
The guarantees, approved by the cabinet, will cover $525 million owed to the U.S. Exim Bank and the rest to local lenders, said the document seen by Reuters.
By: Duncan Miriri (Reuters, Nairobi).
Reporting: Duncan Miriri.
Editing: Elias Biryabarema and Jason Neely.
Photo: Wikipedia.
Review: Emerging Market Formulations & Research Unit, Flagship Records.