Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
Housing Finance now has an option to issue different kinds of notes designed to enhance the return to investors and encourage participation/FILE

Kenya

CMA approves Sh20bn Housing Finance Medium-Term Note

Housing Finance now has an option to issue different kinds of notes designed to enhance the return to investors and encourage participation/FILE

Housing Finance now has an option to issue different kinds of notes designed to enhance the return to investors and encourage participation/FILE

NAIROBI, Kenya, Nov 1 – The Capital Markets Authority (CMA) has granted approval to Housing Finance to issue and list a medium term note of Sh20 billion on the fixed income securities market segment of the Nairobi Securities Exchange (NSE).

Investors may acquire the Housing Finance notes in denominations of Sh100, 000 each.

Housing Finance now has an option to issue different kinds of notes designed to enhance the return to investors and encourage participation.

They include; Fixed Rate Notes, Index–Linked Notes, Zero Coupon Notes and Mixed Rate Notes.

The Authority is satisfied that Housing Finance has made adequate disclosure of material information in accordance with the requirements of the Capital Markets Act, the Second Schedule and Part C of the Third Schedule to the Capital Markets (Securities) (Public Offers, Listing and Disclosures) Regulations, 2002 to enable investors make an informed decision on the programme.

Housing Finance will be required to issue specific pricing supplements for each tranche of notes they will issue detailing the nature of the notes to be issued.

Housing Finance has a focus on long term funding to deliver affordable housing solutions for its middle to lower income target market.

The low and middle income class forms a high proportion of the Kenyan population and the trend is expected to continue increasing.

Increase in population especially in the urban and peri-urban areas pushes up the demand for housing units and hence more pressure is currently on the supply of affordable housing units for this populace.

Advertisement. Scroll to continue reading.
Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...