Consolidated Bank extends its bond maturity by 3 months

The Consolidated Bank of Kenya has extended the maturity of its Sh2 billion medium-term note by three months to allow its biggest shareholder, the government, to inject more capital, the lender said on Monday.

The seven-year bond, which was issued to shore up the bank’s capital, allowing it to lend more to its customers, was due to mature on July 22. It will now mature on October 22 under the same terms with additional interest payments for the extension, Consolidated said.