EABL to raise Sh11 b via medium-term notes

Kenya's East Africa Breweries Ltd is seeking to raise 11 billion shillings ($120.48 million) through medium-term notes, according to a company statement published in local newspaper Daily Nation on Wednesday.

EABL, controlled by Britain's Diageo, said it had obtained regulatory approval for this which will be restricted to the domestic market.

The company did not specify why it is raising money.

Investors will be required to have a minimum subscription of 100,000 shillings, and the first tranche of 5 billion shillings will be launched on Wednesday.