Centum Real Estate’s MD Samuel Kariuki. PHOTO | COURTESY | CentumRE Centum Real Estate Limited on December 16 last year closed the issue of the Ksh. 4 billion project bond with a green shoe option of KES2 billion.
NSE Chief Executive Geoffrey Odundo said the ability of issuers such as Centum Real Estate Limited to come to the market and raise capital points to the acknowledgement of their quality and the rising investor appetite in our market for debt securities.
Centum Real Estate Limited has listed its KES 3 billion project bond at the Nairobi Securities Exchange (NSE).
The NSE listing will give buyers of the three-year bond a platform to trade the security before its maturity in 2023.
The listing follows approval by both the Capital Markets Authority (CMA) and the Nairobi Securities Exchange (NSE).
“The listing gives investors flexibility and more options to cash in or re-balance their portfolios on a need basis during the life of the bond,” said the Centum Real Estate Managing Director, Samuel Kariuki.
Centum Real Estate Limited, a fully owned subsidiary of the NSE-listed Centum Investment Company Plc, on December 16 last year closed the issue of the Ksh. 4 billion project bond with a green shoe option of Ksh. 2 billion.
NSE Chief Executive Geoffrey Odundo, said the ability of issuers such as Centum Real Estate Limited to come to the market and raise capital points to the acknowledgement of their quality and the rising investor appetite in our market for debt securities.
“The NSE commends Centum Real Estate Limited on the listing of the bond. The success of the Bond and those of the other corporate debt issues is a clear indication of the depth of the capital markets as a good avenue to fund well-structured and innovative instruments,” said Mr Odundo.
The first tranche of the bond successfully raised KES3 billion, which is being deployed in funding construction of the Company’s ongoing housing projects.
“We expect vibrant trading of the Centum Real Estate Bond as it provides a relatively low risk investment, short term maturity and a relatively high coupon rate,” said Kabaki Wamwea, the Private Wealth Capital CEO. “Corporate Bonds provide investors with a lucrative opportunity to diversify away from the concentration risk of their fixed income portfolios,” he added.Centum Real Estate has the option of returning to the market to raise more cash in fresh tranches of the bond.“We’re on budget and on time with […]
