Acorn Holdings sees oversubscription of final tranche of its Green Bond

KENYA – Property developer Acorn Holdings Limited has closed the final tranche of its Medium-Term Green Note Programme under which the first Green Bond was launched. In a statement, the company says the bond has raised KSh2.096 billion (US$19.4 million) against a target of KSh1.438 billion (US$13.3 million) representing a subscription rate of 146 percent. The green bond was launched in October 2019 for KSh5 billion (US$46.2 million), becoming the first of its kind in Kenya. In the process, the first tranche of the issue raised KSh4.262 billion (US$39.4 million)…

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Kenya launches first corporate green bond to help fight climate change

KENYA – Acorn Group, a project management services provider and PE fund Helios private equity investing firm have launched the first green bond in Kenya to help fight climate change. The debt instrument which is the first in the eastern and central Africa region was issued by Acorn Holdings so far it has raised KSh4.26 billion (US$41.3m) from investors which is 85 percent subscription of the targeted Sh5 billion. The green finance instrument was made possible following the successful completion of the green bond rules and guidelines which were launched…

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