Acorn Holdings Limited has announced plans to retire its Ksh800 million bond, part of Ksh.5.7 billion bonds which was floated in October 2019.
The redemption will be effected on or before 31 October 2022, according to a public statement issued by the firm which develops accommodations for students.
“Acorn Project (Two) Limited Liability Partnership hereby gives notice to all noteholders under its Ksh5.7 billion MTN Programme, to exercise its option for early redemption of a portion of outstanding notes issued under the Programme. The redemption will be effected on or before 31 October 2022 (Early Redemption Date). The total amount of the Notes to be redeemed is Ksh800,200,000 in relation to Project 3 (USIU3, Rowan Properties LLP),” the statement read in part.
The notes will be redeemed at an amount equal to the nominal value of the notes, together with accrued but unpaid interest from the preceding Interest Payment Date up to and including the Early RedemptionDate (Early Redemption Amount).
Read: EABL’s Medium-term Bondholders Receive Ksh673 Million
In connection with the early redemption, the Notes will be delisted from the Fixed Income Securities Market Segment of the Nairobi Securities Exchange.
Acorn issued a Ksh5 billion medium-term notes (MTN) program in October 2019 which became the first green bond in Kenya.
In May last year, the company upsized the corporate bond to Ksh5.7 billion after approvals by the Capital Markets Authority (CMA).
Emerging Africa Infrastructure Fund (EAIF) is the bond’s anchor investor having advanced Ksh1.3 billion to the MTN program.
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