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