Money Markets
Safaricom’s second bond snapped up by eager investors
An M-pesa user at a Jamia Mall outlet in Nairobi. With the issue of the Sh5bn bond, Safaricom has re-established its relationship with the Kenyan corporate bond market. Photo/FILE
Posted Tuesday, November 3 2009 at 00:00
In 2001, the listed telecoms operator launched a bond for Sh4 billion, the principal for which was repaid between September 2003 and March 2006.
The issue was put together by CFC Stanbic Bank and CFC Stanbic Financial Services; Barclays Bank of Kenya Limited and Barclays Financial Services Limited in association with Absa Capital, a division of Absa Bank Limited, as arrangers.
The joint sponsoring stockbrokers were CFC Stanbic Financial Services and Kestrel Capital (East Africa) Limited.
The reporting accountants on the issue is PricewaterhouseCoopers, while the transaction’s legal counsel is Kaplan & Stratton.
Legal counsel to Safaricom on the programme is being provided by Daly & Figgis, the fiscal and calculation agent is CFC Stanbic Bank, while the registrar is Livingstone Registrars.
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