EABL Raises KSh 16.7 Billion in Oversubscribed Bond Listing on Nairobi Securities Exchange

East African Breweries Plc (EABL) has successfully listed the first tranche of its Medium-Term Note (MTN) Programme on the Nairobi Securities Exchange (NSE), raising KSh 16.76 billion. The issuance, part of a broader KSh 20 billion MTN programme, aims to support the company’s strategic investments and regional expansion plans.

Investor interest in the bond was notably strong, with the issuance closing 154% oversubscribed. Analysts say the overwhelming response reflects renewed confidence in Kenya’s capital markets and the growing sophistication of the country’s investor base. Absa Bank Kenya, which led the arrangement, described the outcome as a clear signal of market strength.

The listing was celebrated at a Bell Ringing Ceremony hosted at the NSE on Monday morning. NSE CEO Mwiti Frank highlighted that the successful issuance demonstrates strengthened market sentiment and improving economic conditions. “Today’s listing sends a clear signal of renewed confidence in Kenya’s capital markets anchored by the NSE,” he remarked.

EABL Group CEO Jane Karuku expressed appreciation for investor trust, noting that the oversubscription underscores the company’s strong growth trajectory and resilience. “This milestone is a major endorsement of our growth agenda and disciplined execution,” she said, emphasizing the company’s long-term strategic direction.

Representing the National Treasury, Director General for Public Investments and Portfolio Management Lawrence Kibet commended EABL for contributing to the deepening of Kenya’s corporate bond market. With appetite for corporate bonds rebounding, NSE encourages issuers to take advantage of current market conditions. “If you are thinking of raising capital, now is the time to come to NSE,” Frank added.

source: kenyawall