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Johannesburg financier gets CMA approval to raise Sh 5 billion bond in Kenya

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South African micro financier, Real People Kenya has been given a green light to sell first Sh 2 billion through the Nairobi securities Exchange(NSE) following Capital Markets(CMA) approval to raise Sh 5 billion bond in the market.

CMA in a letter addressed to the Johannesburg headquartered micro-lender also approved listing of its structured short term notes on the fixed income securities investment segment of the bourse.

Real People intend to use the proceeds raised from the bond to grow its loan book portfolio to support its core lending business in the market.

Real People East Africa Chief executive officer, Daniel Ohonde said the debt issue will be in two to three tranches of Sh 2 billion, Sh 1.5 billion and Sh 1.5 billion over the next 5 years.

“The approval by Capital Markets Authority allows us to raise the first tranche of Sh 2 billion.” said Ohonde.

NIC Capital Limited is the Lead Arranger for the transaction while Coulson Harney Advocates are the Legal Advisers.

According to NIC Capital MD, Maurice Opiyo, the bond provides the company an opportunity to tap the favorable conditions prevailing in the debt market to raise additional capital as it pursues its strategic objectives.

“Investor appetite for debt securities has been positive going by the success of recent bond issues,” said Opiyo.

The minimum lot investors can apply for the bond is Sh100, 000.

The company’ has lent over Sh 10 billion to over 25,000 SME’s.

Johannesburg financier gets CMA approval to raise Sh 5 billion bond in Kenya Reviewed by on . South African micro financier, Real People Kenya has been given a green light to sell first Sh 2 billion through the Nairobi securities Exchange(NSE) following South African micro financier, Real People Kenya has been given a green light to sell first Sh 2 billion through the Nairobi securities Exchange(NSE) following Rating: 0

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