Co-op Bank, EBRD sign Sh13bn foreign currency financing deal
Co-op Bank said on Wednesday that the first Sh6.5 billion ($50 million) tranche had been executed through a cross-currency swap, becoming the first such transaction to use the Kenya Shilling Overnight Interbank Average as a benchmark refere
Co-operative Bank of Kenya has signed a Sh13 billion foreign currency financing agreement with the European Bank for Reconstruction and Development. The first Sh6.5 billion ($50 million) tranche was executed through a cross-currency swap, making it the first such transaction benchmarked to the Kenya Shilling Overnight Interbank Average rate.
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