Alcohol manufacturers have petitioned the State to increase bar operating period by two hours in the wake of falling Covid-19 infection rates. Alcoholic Beverages Association of Kenya (Abak)—manufacturers lobby—wants the State to have bars opened until 9 pm from the current closing time of 7pm to protect jobs. The lobby’s petition comes at a time […]
East African Breweries Plc (EABL) will now rely on long-term borrowings to fund its capital expenditure, a move it says will improve its liquidity. The company has several multi-billion-shilling loans due within a year, contributing to overall short-term liabilities exceeding its current assets. “The group’s statement of financial position indicates a net current liabilities position […]
Everything was dropping on the stock market during the week that ended on the 24th of September 2021, from market capitalization and indices, to the equity turnover and number of deals. While some counters, including TBL and NICOL released half year financial results, but the results of TBL had no impact to entice activities on […]
Production at the East African Breweries Limited plant in Nairobi/FILE East African Breweries Limited (EABL) has floated a Sh11 billion Corporate bond to repay part of its maturing loans. In a public notice, the Nairobi Securities Exchange listed brewer said the offer runs from October 6 to 21. The minimum investable amount of the bond […]
East African Breweries Limited has officially changed its name to East African Breweries PLC. This name change took effect from 1st October 2021. The company was issued with a certificate of change of name by Registrar of Companies. The name change was approved by the company’s shareholders at an Annual General Meeting on 14th September. […]
Credit: REUTERS/THOMAS MUKOYA NAIROBI, Oct 6 (Reuters) – Kenya’s East African Breweries (EABL) said on Wednesday it planned to raise up to 11 billion shillings ($99.46 million)through a five-year medium term note. The brewer EABL.NR, controlled by Britain’s Diageo DGE.L, said the proceeds of the note, with a 12.25% interest rate, will be used to […]
The value of assets held by the State-owned pension fund grew by Sh40 billion in the one year to June 2021, helped by higher valuations of blue-chip shareholdings and increased investments in government bonds. Fresh data by the Retirement Benefits Authority (RBA) shows that the asset value of the National Social Security Fund (NSSF) grew […]
Absa Bank Kenya #ticker:ABSA Thursday revealed it offered East African Breweries Plc #ticker:EABL (EABL) a syndicated loan of Sh18.8 billion to avoid breaching the law with the disclosure of multiple lenders not made public by the brewer in its latest annual report. The bank said it offered EABL a Sh10.8 billion and the remaining amounts […]
East African Breweries PLC (EABL) has today announced the issuance of a Ksh. 11 billion corporate bond under the Domestic Medium Term Note (MTN) Programme. The bond will bear interest at a fixed annual rate of at least 12.25% which will be payable semi-annually. The bond by EABL will be for a period of 5 […]
Absa Bank Kenya #ticker:ABSA has lent East African Breweries Limited #ticker:EABL (EABL) a total of Sh18.8 billion, breaching the limits placed on lending to a single borrower. The bank had a core capital of Sh46.3 billion as of June, meaning that it should not have lent more than Sh11.5 billion to one entity. The brewer […]
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