Kenya's Mabati launches 8-year bond for $27 mln

Fri 26 Sep 2008, 6:27 GMT
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NAIROBI (Reuters) - Kenya's corrugated iron sheet maker Mabati offered on Friday a 2 billion shilling eight-year bond with both floating and fixed rates to expand its capacity.

The fixed interest rate notes will be priced using the yield of the most recent government bond of a similar period, while the floating rate notes will be based on the 182-day treasury bill, the firm said in a statement.

The six-month treasury bill yield was 8.117 percent at this week's auction.

Interest will be paid twice each year and the notes will be redeemed in nine equal instalments after four years.

Mabati issued a one billion shilling five-year floating bond in October 2002.

Jean-Louis Kayitenkore
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