East African Breweries Limited (EABL) launched the second tranche of a Sh11 billion medium term note (MTN) programme this week. In the first tranche, which opened for sale in mid-March 2015, strong demand enabled the company raise the entire Sh5 billion.
Its fine pricing at the time partly contributed to the success. This time, EABL wants to raise the programme’s balance of Sh6 billion. I’m calling on due caution with this issue. A few issues about the company have unnerved me since the last issue.
