Safaricom’s first green bond has recorded massive demand, attracting KES 41.6 billion against a target of KES 15 billion, an oversubscription of 175.7%.
The company will take up the full KES 5 billion greenshoe option, raising KES 20 billion and refunding KES 21.4 billion to investors.
CEO Peter Ndegwa said the strong uptake reflects market confidence in Safaricom’s growth strategy. Funds will be channelled into renewable energy and efficiency projects.
The tax-exempt five-year note, priced at 10.4%, will be listed on the NSE on December 16.