EABL Launches Ksh20B Bond Programme to Boost Capital and Operations

East African Breweries PLC (EABL) has received the green light from the Capital Markets Authority (CMA) to roll out a Domestic Medium Term Note Programme valued at up to Ksh 20 billion. The move is part of the brewer’s strategy to boost its financial flexibility and fund ongoing business operations without adding to its debt load.

Under the plan, EABL will begin by issuing a first tranche worth Ksh 11 billion. The corporate bonds, which are unsecured and listed, will run for five years and offer an annual interest rate of 11.80 per cent. The company said the funds raised will support general corporate needs as outlined in its official pricing documents.

Investors can buy into the offer with a minimum of Ksh 10,000 and can top up in multiples of the same amount. Once issued, the bonds will be listed on the Nairobi Securities Exchange (NSE), allowing investors to trade them freely on the secondary market.

The offer opens on October 27, 2025, and closes on November 10, 2025. Allocation of the bonds is set for November 12, with results announced on November 13. Payments will be made, and the notes issued by November 18, followed by CDS account updates by November 20.

Several top institutions are involved in managing the process. Absa Bank Kenya PLC and Absa Securities Limited are the lead arrangers and placing agents, with Absa Securities also acting as the sponsoring stockbroker.

Image Registrars Limited will oversee calculations, payments, and record keeping, while MTC Trust & Corporate Services Limited will serve as the note trustee. Coulson Harney LLP (Bowmans Kenya) is the legal adviser, and PricewaterhouseCoopers LLP (PwC) is the reporting accountant.

EABL has published the Information Memorandum dated October 16, 2025, and subscription forms on its website. The offer has been approved by the CMA under the Capital Markets (Public Offers, Listing and Disclosures) Regulations, 2023.