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Insurer UAP seeks loan to pay off Sh2bn bond

UAP management during release of its full year financial results on April 2. PHOTO | DIANA NGILA | NMG

By  Victor Juma

Business Editor

Nation Media Group

UAP Holdings is seeking a loan to pay off its Sh2 billion corporate bond that is due for redemption next month.

The insurer issued the bond in July 2014 at an annual fixed interest rate of 13 percent to finance its expansion and working capital requirements.

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