The Kenya Mortgage Refinance Company (KMRC)’s debut bond issue has been oversubscribed nearly six times, continuing the recent trend of high demand for corporate bonds.
The Sh1.4 billion offer attracted bids worth Sh8.1 billion, the Capital Markets Authority (CMA) said on Tuesday, affirming expectations by analysts that the paper would attract good demand due to the interest rate premium it was offering comparable to government bonds of similar duration.
