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Browsing: kenya’s family bank
Kenyan-based lender Family Bank Limited has officially rang the bell to mark the listing and the commencement of trading of its corporate bond at the Nairobi Securities Exchange (NSE).
The country’s Capital Markets Authority gave a nod to list the first tranche of its Medium Term Note under the Fixed Income Market Segment at the NSE after a successful offer that raised a total of US$40.6 million against a US27.8 million target, marking a subscription of 147.3 percent.
Early in June, the Authority allowed the mid-tier lender to issue an US$74.1 million multicurrency Medium Term Note (MTN) programme in tranches.
“The response that this bond has generated demonstrates the confidence the market has in the Family Bank brand despite constrained liquidity in the money market as evidenced by the tough economic environment due to the COVID-19 pandemic,” said Family Bank Chief Executive Officer Rebecca Mbithi.
“The capital raised will definitely …