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EABL eyes banks to retire Sh5bn bond
From left: EABL Group chairman Martin Oduor-Otieno, managing director Andrew Cowan, his Kenya Breweries Limited counterpart Jane Karuku and EABL dinance and strategy director Gyorgy Geizsl during the EABL half year results announcement on January 31. PHOTO | SALATON NJAU
East African Breweries Limited (EABL) #ticker:EABL will use banks to refinance the Sh5 billion bond set for maturity in March, shunning the option of going back to the Nairobi Securities Exchange (NSE) to roll over the debt.
The brewer, with operations in Kenya, Uganda and Tanzania, says it has received “attractive” opportunities from commercial banks. This will also save it from having to pay the lump sum amount in March from its own cash reserves when it is still pursuing capital investments.
