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Originally published by Techish Kenyatech
December 15, 2025
1d ago
Safaricom Asked for KES 15 Billion. Investors Threw KES 41 Billion at Them.
Safaricom's tax-free green bond attracted KES 41.6 billion in bids. The telco will refund KES 21.4 billion after 175% oversubscription...
✨ Key Highlights
Safaricom sought to raise KES 15 billion through its first "Green Bond" to fund renewable energy infrastructure, but received overwhelming investor demand, leading to an oversubscription of 175.7%.
- Safaricom initially targeted KES 15 billion but received applications totaling KES 41.6 billion from investors.
- The telecommunications giant exercised a greenshoe option, increasing the total amount raised to KES 20 billion, the maximum allowed for this tranche.
- Safaricom will refund KES 21.4 billion to investors due to the excess demand.
- The five-year fixed-rate bond offers a 10.4% yield, which is fully tax-exempt, attracting significant investor interest.
- The funds will be used for environmental projects, including solar expansion and energy efficiency upgrades for Safaricom's network infrastructure.
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