Kenyan mobile operator Safaricom plans to launch a KSh4.5bn (E43m) bond this month, according to media reports.
This placement will be the second tranche of a two-tranche KSh12bn bond issue. The first tranche, issued in October 2009, was raised to…
Kenyan mobile operator Safaricom plans to launch a KSh4.5bn (E43m) bond this month, according to media reports.
This placement will be the second tranche of a two-tranche KSh12bn bond issue. The first tranche, issued in October 2009, was raised to KSh7.5bn from the planned KSh5bn after it was oversubscribed.
The proceeds will be used for capital expenditure and to pay dividends.
Barclays Bank Kenya, South Africa’s Absa Bank and CFC Stanbic have been mandated to arrange the two-tranche issue.
Safaricom, which is listed on the Nairobi stock exchange, is backed by Vodafone.
The company was not immediately available for comment.
