Investors who bought Chase Bank corporate bonds worth Sh4.8 billion have been dealt a big blow after it emerged that their only hope of recouping their money is tied to what will be left after Mauritian lender SBM Holdings carves out the good assets from the collapsed bank.
The Kenya Depositors Insurance Corporation (KDIC) chief executive, Mohamud Mohamud, in a phone interview Tuesday said the interests of depositors come first in the bank’s ongoing rescue while bondholders, like other creditors, play second fiddle.