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Real People Sh1.63 billion bond lists on Nairobi Securities Exchange

NEWS
By Elisha Kamau | August 20th 2015

Real People's Sh1.63 billion bond has started trading at the Nairobi Securities Exchange (NSE), with the proceeds expected to further boost the company's lending capacity.

The medium-term note launched early this month targeting retail, high net worth individuals and institutional investors saw investors take up Sh1.4 billion in 5-year Fixed Rate Notes and Sh270,300,000 in three year Fixed Rate Notes.

The first tranche under the Sh5 billion programme was offered in three-year and five-year Fixed Rate Note as per the Information Memorandum approved by the Capital Markets Authority (CMA).

"This is a significant milestone as a financial institution. We are happy to be the first credit-only financial institution to have successfully gone through the entire bond process and have the Notes listed at the Nairobi Securities Exchange," Real People East Africa Chief Executive Officer Daniel Ohonde said.

"At this stage, we continue to grow and play a big role in the financial sector. We wish to thank CMA, NSE and our transactional advisors – NIC Capital – for their support throughout the process," he added.

NSE Chief Executive Geoffrey Odundo said the high uptake of the bond from local investors is testament of confidence in the firm's growth strategy and a clear indication of local firms' great confidence in the fund raising opportunities that the capital markets can offer.

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