KenGen
KenGen Managing Director and Chief Executive Officer, Mrs Rebecca Miano during Inspection ofOlkaria V

Kenya’s electricity generation firm, KenGen, will conclude payment for its 2009 infrastructure bond on October this year.

KenGen Managing Director and CEO, Mrs. Rebecca Miano said the second last installment redemption of the 10-year PIBO was paid on April 30 and the last installment redemption and interest is due for payment on 31st October 2019.

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The second last installment redemption for the Infrastructure Bond amounted to Sh1.56 billion and interest payment of Sh193.7 million to its bondholders.

“The Sh25 billion PIBO was floated in 2009 with an interest of 12.50% to be paid semi-annually together with sixteen equal redemptions of which fifteen have since been paid. The last installment redemption and interest is due for payment on 31st October 2019,” the MD said.

Kengen is expected to return to the market later this year with the much awaited Green bond which CMA approved in February to finance projects in the renewable energy and energy-efficiency.

Mrs. Miano also told reporters the firm may explore asset-backed securities which will require the firm to buy part of the debt themselves as a way of sharing the risk with investors according to CMA regulations.

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