EABL Sh11bn bond scoops award at the Bonds & Loans Africa Awards

EABL Sh11bn bond scoops award at the Bonds & Loans Africa Awards

NAIROBI, Kenya Feb 4-The East African Breweries Limited(EABL) Sh11 billion bond has scooped the local currency Corporate Bond Deal of the year award at the 2022 edition of the Bonds & Loans Africa Awards.

According to the award organizers, the award follows a rigorous selection process and seeks to recognize the most innovative and ground-breaking deals from Sovereign, Corporate and Financial Institution issuers and borrowers.

EABL announced the issuance of the corporate bond under the Domestic Medium Term Note (MTN) Programme on October 6 last year.

On October 21, the firm said that the bond had been oversubscribed by more than three times signalling renewed investor confidence in the previously troubled local bond market.

Investors bid a total of Sh37.9 billion in the issuing round, representing an oversubscription of 275 percent.

Other winners include Absa who scooped the Local Markets Loan House of the Year award and the Sub-Sahara Africa Investment Bank of the Year and Standard Chartered who won the International Markets Loan House of the Year.

The award ceremony will be held on March 9 in Capetown, South Africa.

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