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Britam gets investors nod to retire Sh6bn bond
From left: Britam Note Trustee Robert Ndung’u, Group MD Benson Wairegi and director Peter Munga at Britam Tower during a meeting with the noteholders in Nairobi October 2, 2018. PHOTO | SALATON NJAU | NMG
Investors who lent Britam #ticker:BRIT Sh6 billion through a bond Tuesday gave the firm approval to retire the borrowing early, saving the company hundreds of millions of shillings in interest payments.
The approval means Britam will pay back the Sh6 billion on November 12 for a facility that was to mature on July 15 next year, shortening the period for paying interest that amounted to Sh780 million annually.
