× Business BUSINESS MOTORING SHIPPING & LOGISTICS DR PESA FINANCIAL STANDARD Digital News Videos Health & Science Lifestyle Opinion Education Columnists Moi Cabinets Arts & Culture Fact Check Podcasts E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified Jobs Games Crosswords Sudoku The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS

Barclays Africa raises Sh40b in bond sale after decade-long hiatus

By Patrick Alushula | April 30th 2018

NAIROBI, KENYA: Barclays Africa Group has raised $400 million (Sh40 billion) in capital from its first dollar-denominated bond sale in the international market in more than a decade.

The money, the lender said, would go to funding normal corporate activities and ensuring that it maintains healthy levels of capital.

Bond sales are one of the ways in which companies raise capital. A team from Barclays met with more than 40 investors in one-on-one meetings in London, Hong Kong, and Singapore last week to present the company’s credentials and strategy so as to promote the investment opportunity to a broad array of foreign investors

“The team’s marketing effort was paramount to the success of the transaction. Choosing an optimal execution window and accelerating the timing of execution were also key to the success of the effort,” said Deon Raju, the group treasurer.

Name change

Mr Raju added that the outcome of the capital raising effort had been positive for Barclays Africa Group, both in terms of the total volume of the capital it was able to raise and the pricing achieved.

“This inaugural bond issuance and listing on the London Stock Exchange has also laid an important foundation for future funding access for the group in pursuit of its growth strategy,” he said.

The Barclays Africa Group is set to rebrand to Absa Group Ltd.

This will see the Barclays brand disappear from the Kenyan market in about two years following the sale of Barclays Plc’s stake in the Johannesburg-based Barclays Africa Group.

Share this story
Nairobi stock exchange needs to attract more listings, regulator says
Capital Markets regulator said on Friday the Nairobi Stock Exchange needed to attract more companies
Dog walking becomes the newest hustle in town
Dog walking is now a status symbol. Owning a pet is cool. I nowadays meet lots of Kenyans and foreigners walking their dogs and some running.