EABL CORPORATE BOND
EABL Managing Director Jane Karuku said bond proceeds have been instrumental in supporting its capacity expansion strategy and contributing to overall performance.[Photo/ Courtesy]

EABL Corporate Bond: East African Breweries plc (EABL) has announced an interest payment of Ksh673.8 million to bondholders of its Ksh11 billion medium-term corporate bond.

EABL said it will pay the interest on April 28, 2022, to bondholders 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 Ksh37.9 billion in the issuing round, representing an oversubscription of 275 percent and signaling renewed investor confidence in a previously troubled local bond market.

“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. The bond proceeds have been instrumental in supporting our capacity expansion strategy and contributing to our overall performance. As we celebrate 100 years since this company was founded, we thank the investor community for continued trust and support to our business,” EABL Group Managing Director and CEO, Mrs Jane Karuku 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 recognises the most innovative and ground-breaking deals from sovereign, corporate and financial institution issuers and borrowers. It named the EABL bond the Local Currency Corporate Bond Deal of the Year.

East African Breweries Limited (EABL) is a regional leader in beverage alcohol with a collection of brands across beer and spirits. Although its business is concentrated in three core markets of Kenya, Uganda and Tanzania, its products are sold in more than 10 countries across Africa and beyond.

Key brands include, among others, Tusker, Guinness, Bell Lager, Serengeti Lager, Kenya Cane, Chrome Vodka, Johnnie Walker, Captain Morgan and Smirnoff.

Read: EABL Rolls Out Domestic And Family Abusę Guidelines

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