CMA approves listing of Sh6b Centum bond

Centum Investment Company has received the Capital Markets Authority's approval for the public listing of its Sh6 billion bond through issuance of fixed-rate and equity-linked notes on the Fixed Income Securities Market Segments  of the Nairobi Securities Exchange (NSE).

The tenor of the notes will be five years. The notes offer the public an opportunity to be a part of Centum's growth strategy for the 2014-2019 period which focuses on development of investment opportunities in eight key sectors – Real Estate, Energy, Financial Services, Education, Health, ICT, Agribusiness & FMCG.

The notes to be issued are senior unsecured fixed rate notes as well as senior unsecured equity linked notes (ELN). This will be the first issued ELN, in which the variable return can be traded separately on the NSE.

Group Chief Executive James Mworia said the structure of the note issue is also a first in Kenya, in keeping with Centum's theme to continuously innovate and helping to further deepen Kenya's capital markets.The note issue will open today and close on June 15, 2015.