Medium Term Notes blog update courtesy of Reuters Africa.
Kenya’s East African Breweries Ltd is seeking to raise 11 billion shillings ($120.48 million) through medium-term notes, according to a company statement published in local newspaper Daily Nation on Wednesday.
EABL, controlled by Britain’s Diageo, said it had obtained regulatory approval for this which will be restricted to the domestic market.
The company did not specify why it is raising money.
Investors will be required to have a minimum subscription of 100,000 shillings, and the first tranche of 5 billion shillings will be launched on Wednesday.
About the company
East African Breweries Limited, commonly referred to as EABL, is a Kenya based holding company, which manufactures branded alcoholic and non-alcoholic beverages. EABL is based out of Nairobi, Kenya, with subsidiaries in Kenya, Uganda and Tanzania. The group has distribution partners in Democratic Republic of Congo, Rwanda and South Sudan. In 2005, EABL became the first company in East Africa to reach US$1 Billion in value.