ARM Cement of Kenya is planning to raise up to US$105 million (€97.50 million) by selling five-year bonds to private investors, and it will use proceeds to repay short-term debts.
The bond will have fixed and floating rates and issued in both US dollar and Kenya Shillings.
The company will not list the bonds on Nairobi Securities Exchange and it will initially target to raise US$90 million and raise another US$15 million if the bonds were oversubscribed.
ARM Cement registered a net loss of KES 469
RSS
The bond will have fixed and floating rates and issued in both US dollar and Kenya Shillings.
The company will not list the bonds on Nairobi Securities Exchange and it will initially target to raise US$90 million and raise another US$15 million if the bonds were oversubscribed.
ARM Cement registered a net loss of KES 469 million (€4.25 million/US$4.57 million) in the first nine months of 2015 although sales went up by 7% year-on-year to KES 11.7 billion.
