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[2008-07-22] BBK bond oversubscribed by 27pc Barclays Bank of Kenya (BBK) has announced an oversubscription rate of 27 per cent for the second tranche of its seven year corporate bond valued at Sh2 billion.
This is the second in a series of bond tranches the bank intends to issue in its bid to raise Sh5 billion from the capital markets.
The first tranche worth Sh1 billion was floated towards the end of last year and also had a seven year tenor.
The second tranche was structured in two ways, a fixed-rate note and a floating one.
The fixed-rate note was issued at a margin of an indicative 75 basis points per annum plus spot-7-year Treasury bond yield rate.
BBK CEO Adan Mohammed said that the bond was taken up by individual investors, insurance companies, fund managers and other commercial bank
