East African Breweries PLC (EABL) has launched the first tranche of its new KSh20 billion Medium-Term Note Programme, seeking to raise KSh11 billion to support investments, refinance debts, and strengthen working capital.
The issuance, which has been approved by the Capital Markets Authority (CMA), opened on Monday, October 27, 2025, and will close on November 10, 2025. Upon completion, the note will be listed for trading on the Main Fixed Income Securities Market Segment of the Nairobi Securities Exchange (NSE).
The bond is being arranged by Absa Securities Limited and Absa Bank Kenya PLC, which are serving as Lead Arranger, Placing Agent, and Sponsoring Agent.
EABL Group Chief Financial Officer Risper Ohaga said the company decided to issue the new note following the early redemption of a similar KSh11 billion bond issued in October 2021.
“Interest rates have reduced significantly since we issued the last medium-term note in 2021, and we believe this is an opportune moment to go back to the market,” Ms. Ohaga stated. “EABL believes that the market has the depth and sophistication to support significant corporate issuances, which has been proven time and again whenever we have gone to the capital markets.”
Proceeds from the issuance will be used to finance investments, repay business debts, refinance short-term borrowings, and provide working capital.
Absa Bank Kenya’s Managing Executive for Corporate and Investment Banking, James Agin, expressed confidence in the partnership, noting that the collaboration underscores Absa’s commitment to supporting sustainable corporate financing.
“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 partnership reflects our dedication to helping clients access long-term financing through innovative capital markets solutions,” said Agin.
EABL’s previous 2021 Medium-Term Note was oversubscribed, attracting KSh37.9 billion in investor applications against a target of KSh11 billion, a testament to investor confidence in the brewer’s financial strength and brand reputation.