CENTUM TO ANNOUNCE SH6BN CORPORATE BOND FOR ENERGY PROJECTS

Listed investment company, Centum, is imminently expected to get the nod from the Capital Markets Authority to raise Sh6billion through a corporate bond, sources say.

The investment house which is currently involved in multiple mega projects is in need of cash to jump start some while funding the ongoing ones.

In Ol Karia it is looking to put up a 35Megawatt power plant initially which could cost it in the region of US$35-40million (KES 3.3billion) at the Akira geothermal project.

It has the $2bn 981MW Lamu Coal power plant.

It is developing the massive 62,000 square foot Two Rivers Mall project in what is seen as Nairobi's diplomatic blue zone in the Runda, Muthaiga, Gigiri and Nyari catchment area as well as nearby Ruaka and  Kiuna.

It is not clear if it is a straight corporate bond or a Real Estate Investment Trust (REIT) which allows investors to buy shareholding into a project like Two Rivers but Centum will certainly be counting on the success of Housing Finance's oversubscribed rights issue earlier this year.

Dyer and Blair will be the Lead Sponsoring Brokers.

Email us at: NairobitechNews@gmail.com