Safaricom has opened the first tranche of its KSh 40 billion Medium Term Note programme, offering up to KSh 15 billion in five-year green notes priced at a fixed 10.40 percent as the company moves to fund eligible green projects under its sustainability framework.
- •The first tranche carries a greenshoe option of up to KSh 5 billion.
- •The minimum subscription amount is KSh 50,000 in multiples of KSh 10,000.
- •The notes are senior and unsecured and will be listed on the Nairobi Securities Exchange.
The company says it will allocate proceeds to green projects set out in its Sustainable Finance Framework.
The offer will be opened on 25 November at 8:00 am and will close on 5 December at 5:00 pm. Allotment results will be released on 8 December and notification to applicants will follow on 9 December.
The issue date and payment date for qualified institutional investors is set for 11 December. CDSC account crediting is scheduled for 15 December and listing on 16 December.
Safaricom has restricted the offer to Kenya and the notes will follow Kenyan law.
| Metric | Details |
|---|---|
| Programme Size | KSh 40 billion |
| Tranche 1 Amount | KSh 15 billion max |
| Greenshoe Option | KSh 5 billion |
| Tenor | Five years |
| Interest Rate | 10.40% fixed |
| Note Type | Senior, unsecured, green |
| Offer Period | 25 Nov to 5 Dec 2025 |
| Allotment Date | 8 December 2025 |
| Listing Date | 16 December 2025 |
| Minimum Subscription | KSh 50,000 |
The structure follows strong corporate debt market activity. East African Breweries recently closed the first tranche of its KSh 20 billion MTN programme with KSh 16.76 billion in bids against an KSh 11 billion target. Other recent issuers include Kenya Mortgage Refinance Company and Family Bank. Safaricom now becomes the largest active issuer in the corporate debt market.
