East African Breweries Plc (EABL) has officially listed the first tranche of its Medium-Term Note (MTN) Programme on the Nairobi Securities Exchange (NSE), raising KES 16.76 billion.
- •The issuance was met with strong demand, closing 154% oversubscribed, signaling renewed investor confidence in Kenya’s capital markets.
- •The first tranche forms part of EABL’s broader KES 20 billion Medium-Term Note Programme, structured to support the company’s investment priorities and regional expansion strategy.
- •Absa Bank Kenya, the lead arranger of the transaction, noted that the outcome underscores the strength of Kenya’s financial ecosystem and the sophistication of its investor base.
The listing was marked by a Bell Ringing Ceremony hosted at the NSE on Monday morning. Speaking during the event, NSE CEO Mwiti Frank said the successful issuance highlights strengthened sentiment and improving market conditions.
“Today’s listing sends a clear signal of renewed confidence in Kenya’s capital markets anchored by the NSE,” he noted.
EABL Group CEO Jane Karuku praised the investor response, saying the oversubscription reflects strong trust in EABL’s long-term growth trajectory and resilience.
“This milestone reflects the confidence that investors continue to place in EABL’s performance, resilience, and strategic direction,” she said.
“The success of this first tranche is a major endorsement of our growth agenda and disciplined execution.”
Representing the National Treasury, Director General for Public Investments and Portfolio Management Lawrence Kibet commended the company for deepening the corporate bond market.
“We are keen on consistently demonstrating that capital markets lie at the heart of our economic transformation agenda,” he stated.
With appetite for corporate bonds rebounding, the NSE says now is an opportune moment for issuers planning to raise capital.
“If you are thinking of raising capital, now is the time to come to NSE,” Frank added.
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