KA-INVESTOR
(PIBO = Public Infrastructure Bond Offer)
Opens – 08/09/ 2009
Closes – 29/09/2009
Rising – Ksh.15 billion (in case of an over-subscription, KenGen is allowed take up an additional Ksh.10 billion, through a greenshoe option)
Why? – to finance its geothermal expansion programme
Period (bond term) - 10 years
Interest rate - 12.5% [fixed – quite good in the current market] (Interest will be paid in the first two years while the principal sum is redeemable every six months for 8 years in equal installments)
Minimum investment (per investor) – Ksh.100,000 (Additional investments in multiples of Ksh.100,000)
Who can invest? - Open to individuals/retail (20%) and corporate (80%) investors (including both locals and foreigners – basically everybody)
Lead sponsoring broker - Standard Investment Bank
Lead arranger - Standard Chartered Bank
Financial advisers - KPMG
For more information on how to invest in this Pibo, contact your ‘loss-making’ broker. The prospectus will be out on 8th September.
