Investors in EABL tranche 2 corporate bond will receive interest payment for their investment at the start of April 2019. It is the fourth interest payment since the bond was issued in April 2017.
East African Breweries Limited issued a corporate bond in March 2015 and a second bond in April 2017 to fund its expansion plans. The first tranche raised KSh5 billion at 12.95 percent per annum and it matures in March 2020. The second tranche raised KSh6 billion at 14.17 percent per annum and its redemption date is in March 2022.
EABL’s fiscal agent, Stanbic Bank, issued a statement to the NSE saying, “The interest will be paid at a fixed rate of 14.17% p.a (on the amount of notes held) to the note holders whose names appear on the register of bondholders as at the close of business 15th March 2019.”