KMRC to issue Sh3b bond for mortgages

THE STANDARD
By
Dominic Omondi |
December 18th 2020 at 00:00:00 GMT +0300
The Kenya Mortgage Refinance Corporation (KMRC) will issue a corporate bond in the third quarter of 2021, as it moves to raise money for low-cost houses.
Chief Executive Johnstone Olteita said an interview with The Standard that the company would be seeking to raise between Sh2 billion and Sh3 billion next year, but did not give further details.
Because KMRC is new, it has signed an agreement with African Development Bank (AfDB) for credit enhancement as a kind of security for the bond.
It will also get support from the World Bank and its private investment wing, International Finance Corporation.

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