Time flies with great content! Renew in to keep enjoying all our premium content.
Prime
NSE bond issuer Real People seeks to convert Sh1.26bn bond to equity
From left: Capital Markets Authority CEO Paul Muthaura, former Real People board member Nthenya Mule and NSE chief executive Geoffrey Odundo during the ringing of bell ceromony to mark the start of its bond trading in August 2015. FILE PHOTO | NMG
A South African-linked credit-only micro-finance firm Real People Kenya Ltd is unable to service the Sh1.26 billion bond issued in 2015 and is seeking to convert it into equity.
The firm, with accumulated losses of Sh815 million and a negative equity of Sh65 million by end of March 2018, has started negotiations with bondholders to convert the bond into shares even as the first tranche matures this month.
