EABL bondholders set to receive interest payments worth Sh673.8mn

NAIROBI, Kenya, April 28 -East African Breweries plc ( EABL ) bondholders are expected to receive interest payments amounting to Sh 673.8 million starting today.

This will apply to bondholders of the Shs 11 billion medium-term corporate bond on record as of April 13, 2022, in accordance with the terms and conditions of the company’s prospectus for the bond issue Programme.

The five-year, fixed-rate instrument was offered at an interest rate of 12.25 percent payable semi-annually.

The bond was issued in October 2021 and saw investors bid Sh37.9 billion in the issuing round, representing an oversubscription of 275 percent and signaling renewed investor confidence in a previously troubled local bond market.

EABL Group Managing Director and CEO, Jane Karuku said the bond proceeds have been instrumental in supporting the firm’s capacity expansion strategy and contributing to the overall performance.

” We are delighted to announce that EABL will be paying the first interest coupon of 12.25 percent ( KES 673.8 million ) to bondholders of our recent note . As we celebrate 100 years since this company was founded, we thank the investor community for continued trust and support to our business,” she said.

The EABL Medium-Term Note was ranked among the top corporate deals transacted in Africa in 2021 by the Bond and Loans Awards. The Award recognizes the most innovative and groundbreaking deals from sovereign, corporate and financial institution issuers and borrowers.

It named the EABL bond the Local Currency Corporate Bond Deal of the Year.