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Kenya : BRITAM announces launch of $70mln bond in KENYA

June 17, 2014



On Wednesday, Britam has announced the launch of $70.5 million Corporate Bond in Nairobi that will see the company shore up its investment portfolio.

The Capital Markets Authority has approved the bond, which is in two tranche. The bond will aim to increase Ksh 3 billion with a green shoe option of Ksh 1 billion in the first tranche and the remaining amounts to be increased in the last tranche to be offered later.

The Cabinet Secretary for Transport and Infrastructure Engineer Michael Kamau commented The Britam Corporate Bond aims at raising funds for amongst other initiatives property development. I encourage Britam to continually diversify and deepen its investments into other sectors to stimulate social economic development of the country in tandem with our economic blueprint Vision 2030.

Some of the property market segments comprise of master planned communities, suburban outlet malls, commercial office parks, budget hotels and mixed use properties- retail, offices and residential properties.

Mr. Benson Wairegi, Group Managing Director of Britam, stated We see growing demand for decent and aspirational properties which is consistent with the expanding middle class and SME population. We aim to expand our property agenda to all markets we are operating in and currently we are focusing on expanding our land bank to make sure this venture is a success.


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Source: TendersInfo (India)


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