NAIROBI, Kenya, Oct 27 – East African Breweries Limited (EABL) plans to raise Sh11 billion through a corporate bond following approval from the Capital Markets Authority (CMA).
The Medium-Term Note (MTN) will trade on the Main Fixed Income Securities Market of the Nairobi Securities Exchange (NSE) and will be used to finance investments, refinance short-term borrowings, repay existing debt, and provide working capital.
EABL Group Chief Financial Officer Risper Ohaga said the firm’s decision to issue a new bond and redeem its earlier one early was driven by improved market conditions.
“Interest rates have reduced significantly since we issued the last medium-term note in 2021, and we believe this is an opportune moment to return to the market,” said Ms. Ohaga. “EABL believes the market has the depth and sophistication to support major corporate issuances, as proven in our past engagements.”
Investors will have 15 days from Monday, October 27, 2025, to subscribe to the offer. Absa Securities Limited and Absa Bank Kenya PLC are the arrangers for the note.
“At Absa Bank Kenya, we are proud to serve as the Lead Arranger, Placing Agent, and Sponsoring Agent for EABL’s Sh20 billion Medium-Term Note Programme,” said James Agin, Managing Executive for Corporate and Investment Banking at Absa Kenya. “This partnership underscores our commitment to enabling access to long-term, sustainable financing.”
EABL’s previous Medium-Term Note, issued in October 2021, was oversubscribed, attracting Sh37.9 billion in applications against a target of Sh11 billion.
