Safaricom PLC has opened the book for its inaugural tranche of fixed-rate green notes worth up to Sh15 billion, with an additional Sh5 billion greenshoe option, under its newly approved Sh40 billion Domestic Medium Term Note (MTN) Programme.
The Capital Markets Authority (CMA) approved on November 7, paving the way for Safaricom to issue the notes, which will finance and refinance projects classified as Eligible Green Projects under the company’s Sustainable Finance Framework.
According to the offer documents, the notes carry a 5-year tenor and a fixed annual interest rate of 10.40%, with a minimum subscription of KSh50,000 and increments of KSh10,000 thereafter. Safaricom has allocated 100% of the net proceeds to green initiatives, including renewable energy, energy efficiency, and sustainable transport.
Book-building opened on 25 November at 8:00 a.m. and closes on 5 December at 5:00 p.m., with allotment results expected on 6 December and listing on the Nairobi Securities Exchange set for 16 December.
SBG Securities and Standard Bank Kenya are the joint lead arrangers, while Standard Chartered Bank Kenya and Dyer & Blair are among the placing agents. Image Registrars will serve as registrar, calculation agent, and fiscal agent.
Safaricom noted that all offer documents, including the Information Memorandum and Pricing Supplement, are available on its website.
Email your news TIPS to Editor@Kahawatungu.com — this is our only official communication channel
