Safaricom PLC has opened the first tranche of its Sh40 billion Medium Term Note programme, offering up to Sh15 billion in five-year green notes.
This is after the Capital Markets Authority (CMA) cleared the telco to issue the corporate bond in a fundraising initiative designed to be executed in various tranches over the medium term.
“Safaricom PLC hereby announces that the Capital Markets Authority in exercise of its powers under section 30A of the Capital Markets Act (Chapter 485A of the Laws of Kenya), on 7 November 2025 granted it approval to establish a domestic medium term note programme (MTN Programme) pursuant to which it will offer up notes in aggregate principal amount of up to Sh40 billion,” the statement reads.
In the first tranche, Safaricom seeks to raise Sh15 billion in five-year green notes priced at a fixed 10.40 percent, with a greenshoe option of up to Sh5 billion.
The minimum subscription amount is Sh50,000 in multiples of Sh10,000. According to Safaricom, the notes are senior and unsecured and will be listed on the Nairobi Securities Exchange on 16th December 2025.
The offer opens on Tuesday 25 November at 8:00 am and will close on 5 December at 5:00 pm. Allotment results will be released on 8 December with notification to applicants set to follow on 9 December via email.
“This announcement has been issued with the approval of the Capital Markets Authority pursuant to the Capital Markets (Securities) (Public Offers, Listing and Disclosures) Regulations, 2023 as amended from time to time. As a matter of policy, the Capital Markets Authority assumes no responsibility for the correctness of the statements appearing in this announcement,” the telco stated.
The bond announcement bond comes shortly after the East African Breweries PLC (EABL) successfully concluded the first tranche of its new Sh20 billion Domestic Medium-Term Note Programme, signalling renewed momentum in Kenya’s corporate bond market.
EABL raised a total of Sh16.76 billion after the offer was significantly oversubscribed by 52.4 percent against an initial target of Sh11 billion, signaling high investor demand.
In response to the overwhelming investor interest, EABL exercised the green shoe option, a provision that allows issuers to accommodate additional demand, thereby accepting an extra Sh6 billion beyond the initial target.
The 5-year Notes will yield an attractive annual coupon rate of 11.80%, maturing on November 18, 2030.
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