Nairobi, August 19th, 2015 – Real People’s Kshs. 1.63 billion bond has today started trading at the Nairobi bourse with the proceeds expected to further boost the company’s lending capacity. The medium term note that was launched in early August 2015 targeting retail, high net worth individuals and institutional investors saw investors take up Kshs 1,363,900,000 in 5 year Fixed Rate Notes and Kshs 270,300,000 in 3 year Fixed Rate Notes .
The first tranche under the Kshs 5 billion programme was offered in 3 year and 5 year Fixed Rate Note as per the Information Memorandum approved by the Capital Markets Authority (CMA).
“This is a significant milestone as a financial institution. We are happy to be the first credit only financial institution to have successfully gone through the entire bond process and have the Notes listed at the Nairobi Securities Exchange,” noted Daniel Ohonde, Chief Executive Officer, Real People East Africa.
He added: “At this stage, we continue to grow and play a big role in the financial sector. We wish to thank CMA, Nairobi Securities Exchange (NSE) and our transactional advisors – NIC Capital for their support throughout the process.”
Speaking at the Ceremony, NSE Chief Executive Mr. Geoffrey Odundo congratulated Real People saying that “The high uptake of the Real People Bond from local investors is testament of Kenyans’ confidence in the Real People growth strategy and a clear indication of Kenyan companies great confidence in the fund raising opportunities that our Capital Markets have to offer.We at the Exchange applaud Real People Kenya Limited on the successful listing of their Bond”.
Mr. Odundo further elaborated that listing on the bourse enables an institution to improve their liquidity, unlock their value, enhance their company profile, raise their governance standards while maximizing value for their shareholders. He urged corporates to look no further than the Exchange, as they seek to raise capital to fund their various initiatives.
The bond process was led by NIC Capital as the transaction advisors, PKF, the reporting accountants, Coulson Harney, as the legal advisors, NIC Bank as the registrar and the receiving bank.
About Real People Kenya Limited
Real People is a non-deposit taking financial solutions provider for businesses and homes. At Real People, we target the mass market with a particular interest in the Small and Medium Enterprises sector in South Africa and East Africa (Kenya, Uganda and Tanzania). We started operations in Kenya in 2006 and has over the years expanded to cover other regional countries like Uganda and Tanzania. From its head office in Nairobi, the company serves these markets through a network of branches and satellite offices in Kenya, Uganda and Tanzania. Currently, we have 10 main branches and seven satellite offices in Kenya, three branches in Uganda and two branches in Tanzania. Our East Africa operations are built on a focused portfolio of businesses. Our services are anchored on the provision of responsible finance solutions to individuals and businesses through tailored products such as Business Finance Loan, Asset Finance Loans, Home Construction Loans and Home Improvement Loans.
About The Nairobi Securities Exchange
The Nairobi Securities Exchange (NSE) is the principal securities exchange of Kenya. Besides equity securities, the NSE offers a platform for the issuance and trading of debt securities. The NSE is a member of the African Securities Exchanges Association (ASEA) and the East African Securities Exchanges Association (EASEA). It is an affiliate member of the World Federation of Exchanges (WFE),an associate member of the Association of Futures Markets (AFM) and a partner Exchange in the United Nations Sustainable Stock Exchanges Initiative (SSE).