Celtel Kenya raises KES4.5 billion in bonds

14 Dec 2005

Celtel Kenya, the country’s second largest mobile operator, has raised KES4.5 billion (USD61 million) in the bond market, which it plans to use to fund an expansion programme of its networks and services. The bond, which marks the second and final round of the cellco’s financial restructuring, was oversubscribed, reflecting a renewed confidence in the market. It was the largest bond ever issued on the Nairobi stock exchange.

Kenya, Airtel Kenya