The second tranche of Kenya's inaugural green bond issued by Nairobi-based property developer Acorn Holdings was oversubscribed by 146 per cent. ''Despite the pandemic, the Acorn Green Bond has continued and will continue to pay coupons promptly due to the appropriate project bond structure that was adopted at the outset,'' Kiraithe said. In October 2019, the firm issued an Sh5 billion MTN programme which became the first Green Bond in Kenya. As part of this transaction, the Acorn Green Bond was transferred to the ASA D-REIT. The Acorn Green Bond is rated B1 Global by Moody’s Investor Service and is listed on the Nairobi securities exchange and the International Securities Market of the London Stock Exchange.

Source: The Star July 23, 2021 00:56 UTC