Property developer Acorn Holdings will exercise early redemption of its green bond, which has an outstanding balance of Sh1.86 billion, meaning investors will receive their final settlement ahead of the November 8, 2024, maturity date.
The firm had raised Sh5.7 billion through the bond in multiple transactions starting in 2019, with the funds used to develop its branded student hostels. Acorn has paid part of the bond, which has a fixed interest rate of 12.25 percent, and intends to continue with the early redemption strategy.
