NAIROBI, Kenya, May 28 – I&M Bank has listed the first tranche of its Kenya Shillings-denominated Medium-Term Note (MTN) on the Nairobi Securities Exchange (NSE), opening the door for secondary market trading and wider investor participation in the corporate debt instrument.
The listing on the NSE’s Main Fixed Income Securities Market Segment now allows investors to buy and sell the notes on the secondary market, with minimum bids starting at Sh50,000.
The move follows an oversubscribed public offer that attracted applications worth Sh23.2 billion against the planned Sh10 billion target, translating to a subscription rate of 232.26 percent.
The strong uptake highlights growing investor appetite for corporate debt products amid increasing demand for alternative investment opportunities in Kenya’s capital markets.
I&M Bank said the NSE listing marks a key step in expanding liquidity for the instrument while strengthening the lender’s long-term funding strategy.
“The listing of our MTN on the Nairobi Securities Exchange marks an important step forward for I&M Bank and for investors,” said I&M Group Executive Director Sarit Shah during the NSE bell-ringing ceremony.
“It moves the Notes into an active trading environment, supporting liquidity, price discovery and broader participation in Kenya’s fixed income market,”
Shah added that the milestone will help the bank execute its iMara 3.0 growth strategy focused on expanding its corporate and commercial banking business while growing its retail and SME segments.
The listing also adds momentum to Kenya’s recovering corporate bond market, which has recently seen renewed activity from major issuers.
Nairobi Securities Exchange Chief Executive Officer Frank Mwiti said the transaction demonstrates rising confidence in Kenya’s capital markets and the increasing role of corporate notes in mobilising long-term financing.
“The listing of I&M Bank’s MTN is a further demonstration of the growing confidence in Kenya’s capital markets and the expanding role of corporate notes in mobilising long-term capital.”
“Coming after successful issuances by Safaricom Limited, East African Breweries Limited and Kenya Mortgage Refinancing Company, this transaction reinforces the depth of investor demand and the increasing maturity of Kenya’s corporate bond market,” Mwiti said.
He noted that the return of strong corporate issuers to the market is helping diversify investment opportunities for investors while supporting private sector financing.
