East African Breweries PLC (EABL) has announced plans to raise KSh11 billion in the first phase of its new KSh20 billion Medium-Term Note Programme.
The new bond, which has already been approved by the Capital Markets Authority (CMA), will begin trading on the Nairobi Securities Exchange’s Main Fixed Income Market once the sale period ends.
Investors have 15 days from Monday, October 27 to November 10, 2025 to subscribe to the offer. The transaction is being arranged by Absa Securities Limited and Absa Bank Kenya PLC.
The new issue follows the early redemption of EABL’s previous KSh11 billion bond that was floated in October 2021.
EABL Group Chief Financial Officer Risper Ohaga said the company decided to redeem the earlier note ahead of schedule and return to the market because of improved borrowing conditions.
“Interest rates have dropped significantly since we issued the last bond in 2021. We believe this is the right time to go back to the market,” said Ms. Ohaga.
“EABL has always trusted the depth and sophistication of Kenya’s capital markets, which have supported our growth each time we’ve raised funds.”
According to EABL, the money raised from the new bond will be used to finance ongoing investments, pay off existing debts, refinance short-term loans, and support working capital.
Absa Bank Kenya’s Managing Executive for Corporate and Investment Banking, James Agin, said the bank was proud to support the brewer in accessing long-term financing through the capital markets.
“This partnership demonstrates our commitment to helping clients secure sustainable funding through innovative financial solutions,” said Mr. Agin.
EABL’s last Medium-Term Note in 2021 was oversubscribed, attracting KSh37.9 billion in applications against the targeted KSh11 billion.
EABL remains one of the most active corporate players in Kenya’s bond market.
The brewer, whose popular brands include Tusker, Guinness, Kenya Cane, Johnnie Walker, and Smirnoff, said the new note will support its long-term ambition to remain among the most trusted and best-performing consumer goods companies in Africa.
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