AfDB to Guarantee Kenya’s Mortgage Refinancier Bond

AfDB to Guarantee Kenya’s Mortgage Refinancier Bond

Kenya Mortgage Refinance Company (KMRC) has worked out an arrangement with the African Development Bank (AfDB) where it (KMRC) expects to issue its debut bond in 2021 and piggy back on AfDB’s triple A credit rating with a stable outlook in the debut cash call.

This is owing to KMRC’s absence of a track record due to its novelty in the market thus partnership with AfDB is expected to enhance KMRC’s credit in the bond issuance. See full PDF article below. Available with permission.

Source – Business Daily (Nation Media Group) Newspaper

October 23, 2020