Kenya plans to raise $815 million in a eurobond sale by the end of December to finance its budget deficit and reduce debt costs, according to the National Treasury.

The East African nation's financing strategy aims to address fiscal pressures while managing its debt portfolio more efficiently. The eurobond issuance represents a key component of Kenya's broader $5.4 billion financing plan, which also includes potential debt swaps to optimize borrowing terms.

Treasury officials indicate the bond sale will help bridge the budget gap while taking advantage of favorable market conditions. The proceeds will support government operations and development projects outlined in the current fiscal framework.

This move comes as Kenya seeks to balance its financing needs with sustainable debt management, following previous eurobond issuances that have shaped the country's external debt profile.