Real People’s Kshs. 1.63 billion bond has today started trading at the Nairobi bourse with the proceeds expected to further boost the company’s lending capacity.
The
medium term note that was launched in early August 2015 targeting retail, high
net worth individuals and institutional investors saw investors take up Kshs
1,363,900,000 in 5 year Fixed Rate Notes and Kshs 270,300,000 in 3 year Fixed
Rate Notes .
The
first tranche under the Kshs 5 billion programme was offered in 3 year and 5
year Fixed Rate Note as per the Information Memorandum approved by the Capital
Markets Authority (CMA).
“This
is a significant milestone as a financial institution. We are happy to be the
first credit only financial institution to have successfully gone through the
entire bond process and have the Notes listed at the Nairobi Securities
Exchange,” noted Daniel Ohonde, Chief Executive Officer, Real People East
Africa.
He
added: “At this stage, we continue to grow and play a big role in the financial
sector. We wish to thank CMA, Nairobi Securities Exchange (NSE) and our
transactional advisors – NIC Capital for their support throughout the process.”
Speaking
at the Ceremony, NSE Chief Executive Mr. Geoffrey Odundo congratulated Real
People saying that “The high uptake of the Real People Bond from local
investors is testament of Kenyans’ confidence in the Real People growth
strategy and a clear indication of Kenyan companies great confidence in the
fund raising opportunities that our Capital Markets have to offer. We at the
Exchange applaud Real People Kenya Limited on the successful listing of their
Bond.”
Mr.
Odundo further elaborated that listing on the bourse enables an institution to
improve their liquidity, unlock their value, enhance their company profile,
raise their governance standards while maximizing value for their shareholders.
He urged corporates to look no further than the Exchange, as they seek to raise
capital to fund their various initiatives.
The
bond process was led by NIC Capital as the transaction advisors, PKF, the reporting accountants, Coulson Harney, as the
legal advisors, NIC Bank as the registrar and the receiving bank.
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