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Kenya Power procures Sh50 billion loan to refinance its debt

Kenya Power workers: The loans will have a two year grace period followed by equal semi-annual repayments. PHOTO | FILE

Kenya Power has procured a Sh50 billion ($500 million) long-term syndicated loan to refinance its existing loans.

The facility, signed between the NSE-listed electricity distributor and Standard Chartered Bank, is in two tranches including a Sh35 billion loan comprising a ten-year tenor guaranteed by the World Bank (through the International Development Association) and Sh15.1 billion having a seven-year tenor.

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