NAIROBI, Feb. 15 (Xinhua) -- Kenya raised a record 240.9 billion shillings (about 1.55 billion U.S. dollars) in its first infrastructure bond offer this year, said the Central Bank of Kenya (CBK) Wednesday evening, underlining increased investor confidence in the country's debt market.

The East African nation on Jan. 25 floated a paper worth 450 million dollars to raise funds for infrastructure projects.

The central bank, in auction data released in Kenya's capital of Nairobi, announced that the Treasury bond received bids totaling 1.85 billion dollars, achieving a performance rate of 412.3 percent.

The bank accepted bids totaling 1.55 billion dollars, resulting in the government borrowing more than three times the amount it initially sought. The tax-free bond had a shorter tenor of 8.5 years, with yields standing at 18.5 percent, making it particularly appealing to investors.

CBK Governor Kamau Thugge said during the period of sale of the paper that it had recorded increased demand from external investors.

The raising of the 1.55 billion dollars locally comes a day after the country in a buyback Eurobond offer received 1.5 billion dollars, which it is expected to repay in 2031.

Njuguna Ndung'u, cabinet secretary for National Treasury and Economic Planning, said Tuesday that the proceeds from the 2031 Eurobond, alongside funds raised locally, would be used to repay the 2-billion-dollar Eurobond due in June 2024. Enditem

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