GuarantCo provided partial credit guarantee to investors in Acorn’s KES 5 billion note programme to fund the construction of accommodation for 5,000 students in Nairobi.
First ever green bond in Kenya, rated B1 by Moody’s (higher than the sovereign bond rating), first restricted public offering in Kenya for GuarantCo, first deferred drawdown project loan note and the first affordable housing investment for the Emerging Africa Infrastructure Fund (EAIF).
Acorn Holdings (Acorn), the largest purpose-built student accommodation property developer in Kenya, has cross-listed its KES 4.3 billion green bond programme on the International Securities Market (ISM) of London Stock Exchange. To celebrate the Acorn bond programme listing, David Schwimmer, CEO of London Stock Exchange Group welcomed H.E. President Uhuru Kenyatta, the Rt Hon Alok Sharma, UK Secretary of State for International Development and Edward Kirathe, CEO Acorn Holdings, to open London’s markets for trading today. The bond programme first listed at the Nairobi Securities Exchange on 13th January 2020.
London Stock Exchange welcomes its first Kenya shilling corporate bond on the ISM, Acorn Holdings, guaranteed by GuarantCo, to finance clean, safe, affordable and green-certified accommodation for 5,000 students in Nairobi. More information