Kenya's first green bond raises Sh4.3 billion
SEE ALSO :CMA approves Kenya’s first green bond"The subscription book was well-diversified with significant interest from Kenyan domestic pension funds, commercial banks, insurance and reinsurance companies and non-resident funds,” the bank said. The issue was looking to raise a minimum of Sh2 billion and a maximum of Sh5 billion. It was structured as a “restricted public offer”, targeting sophisticated investors who received a 50 per cent guarantee from credit guarantees provider Guarantco on both their investments and the interest. Over-the-counter trading will be allowed. The green bonds will help protect Kenya from the impact of extreme weather on the agriculture sector, said Nuru Mugambi, a director at the Kenya Bankers Association.
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