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EABL Issues KSh11B Corporate Bond
Strong Market Confidence and Fresh Issuance
East African Breweries PLC (EABL) https://www.eabl.com/ has launched a new KSh11 billion Medium Term Note as the first issuance under its KSh20 billion Medium Term Note Programme.
The Capital Markets Authority approved the programme, paving the way for the note to trade on the Main Fixed Income Securities Market of the Nairobi Securities Exchange.
Investors have 15 days, from Monday, October 27 to November 10, 2025, to subscribe for the offer. The arrangers for the issue are Absa Securities Limited and Absa Kenya PLC.
This new bond follows the early redemption of EABL’s previous KSh11 billion note issued in 2021. The company says the timing aligns with improved market conditions and investor appetite for quality corporate bonds.
EABL Issues KSh11B Corporate Bond
Optimizing Market Timing and Investor Confidence
EABL Group Chief Financial Officer Risper Ohaga said the company opted for early redemption and a new issuance to take advantage of falling interest rates.
“Interest rates have reduced significantly since our last issuance in 2021,” Ms. Ohaga said.
“We believe this is the right moment to return to the market. Kenya’s capital market has the depth and sophistication to support major corporate issuances, as proven whenever we have engaged investors.”
She added that EABL remains committed to maintaining investor confidence through sound financial management and timely repayments. The company’s success in past bond markets highlights its strong governance and stable performance.
Strategic Use of Funds
Funds raised from the bond will finance new investments, repay existing debts, refinance short term borrowings, and strengthen working capital. Ms. Ohaga noted that these priorities align with EABL’s long term growth strategy.
Speaking for the lead arranger, Absa Bank Kenya’s Managing Executive for Corporate and Investment Banking, James Agin, said, “At Absa Bank Kenya, we are proud to serve as the Lead Arranger, Placing Agent, and Sponsoring Agent for EABL’s KSh20 billion Medium Term Note Programme. This collaboration demonstrates our commitment to helping clients access sustainable, long term financing through innovative capital markets solutions.”
EABL’s previous Medium Term Note in 2021 was oversubscribed, attracting KSh37.9 billion against a target of KSh11 billion, a clear indication of strong investor confidence and market depth.
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