Kenya’s business activities of significance

East African Breweries Plc is seeking to raise KSh11Bn shortly after they retired their KSh6Bn Medium Term Note (MTN) on the 28th of June. (The early redemption was averred as part of their balance sheet and costs of funds optimization).

The five-year tenure - with an interest rate of 12.25 per cent p.a. - was in line with our projection of a near term corporate bond issue.

The rationale behind this was the contemporary high costs attached to the alternative sources of income against the backdrop of the pandemic impact on the macroeconomic environment.