Regional financier the
The lender intends to raise Sh2 billion in the first tranche of its multi-currency bond to be issued in
"The first tranche of Sh2 billion will be done this year. The money will be used to finance projects in agriculture, infrastructure and energy," said EADB director-general
The regional financier had planned to issue the bond last year, but shelved the plans due to high interest rates.
The four member countries own 90 per cent of EADB, with other shareholders including
EADB has a loan book of
In June last year, EADB was assigned a first-time rating of Ba1 by Moody's on long-term foreign currency debt with a stable outlook.
This will be the second time the regional lender will be issuing a bond in
The lender joins a list of other institutions that plan to raise debt through the fixed income securities this year.
Most Popular Stories
- Chobani Counters Competition With Expanded Lineup
- Reid: Bundy Backers Are 'Domestic Terrorists'
- Ex-BP Employee Settles Insider Trading Charges
- Venture Investments in U.S. Highest Since 2001
- Colo. Cleantech Program Calls for Entrepreneurs
- Unemployment Rates Down, Job Gains Up in March
- Hiring Fair for Veterans, Job Seekers
- VW Beetle Marks 65th Year in U.S.
- 8 Million Signups Put Obamacare Ahead of Predictions
- The Biebs Crashes Drake's Release Party