Family Bank bond has raised KES 4.42 billion, marking a subscription of 147.3%, against a KES 3 billion target with a green shoe option of KES 1 billion in its first tranche of corporate bond offer via public placement.<\/p>\n
The bank was seeking to raise KES 4 billion, with a minimum subscription of KES 100,000 or equivalent, with a five and a half years (5 and \u00bd year) tenure priced at 13.0% per annum. This issuance comes after the Bank successfully redeemed its five and a half years (5 and \u00bd year) Medium Term Note worth KES 2.0188 billion on 19th<\/sup> April 2021.<\/p>\n \u201cOn behalf of the Board of Directors and the Management at Family Bank, we would like to thank institutional and individual investors who have believed in the Bank and its vision as we seek to increase lending to MSMEs and strengthen our capital base as we heavily invest in technology,\u201d said Family Bank Chief Executive Officer Rebecca Mbithi.<\/p>\n The Bank raised KES 4.42 billion from local fund managers, banks, retail investors, insurance companies and other institutional investors.<\/p>\n \u201cWe are delighted with the performance of the Family Bank Medium Term Note which is instrumental in reviving our corporate bond market. We have therefore allowed the Bank to take up from the investors the KES 3 billion that was approved for the first tranche and the extra KES1 billion offered by the same pool of investors, which is the green shoe option,\u201d noted CMA Chief Executive Wyckliffe Shamiah.<\/p>\n The lead transaction advisors are NCBA Investment Bank and Genghis Capital, PricewaterhouseCoopers (PwC)as the reporting accountants, MTC Trust and Corporate Services Limited as the Note Trustees, Mboya Wangong\u2019u & Waiyaki Advocates as the legal advisors and Tim-Sky Media Services as the Media and Public Relations consultants<\/p>\n","protected":false},"excerpt":{"rendered":" Family Bank bond has raised KES 4.42 billion, marking a subscription of 147.3%, against a KES 3 billion target with a green shoe option of KES 1 billion in its first tranche of corporate bond offer via public placement. The bank was seeking to raise KES 4 billion, with a minimum subscription of KES 100,000 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2984","post","type-post","status-publish","format-standard","hentry","category-newsfeed"],"acf":[],"yoast_head":"\n