East African Breweries PLC (EABL) has kicked off a major financial move, opening the first tranche of its ambitious Ksh 20 billion domestic bond programme, in a bid to strengthen its financial flexibility and fund long-term growth.
The leading regional brewer announced on Monday that it aims to raise up to Ksh 11 billion from investors in this first phase, offering a five-year medium-term note at an attractive annual interest rate of 11.8 percent.
This follows the Capital Markets Authority (CMA)’s approval on October 2, 2025, granting EABL the green light to issue medium-term notes worth up to Ksh 20 billion. The approval allows the company to issue debt securities periodically to support its operations, manage debt, and fund expansion projects across East Africa.
“This bond programme underscores our confidence in Kenya’s capital markets and our commitment to sustainable business growth,” said EABL Group MD and CEO Jane Karuku, during the release of the 2023 financial results on July 30, 2024.
Alongside her, Group Chairman Martin Oduor reaffirmed EABL’s focus on “financial resilience and strategic innovation” as the company navigates changing market conditions.
Investor-Friendly Terms
The minimum investment amount is Ksh 10,000, opening the opportunity to both retail and institutional investors — a move designed to democratize access to corporate investment instruments.
The offer opened today, October 27, 2025, and will close on Monday, November 10, 2025. Allotment is slated for November 12, while payment and issuance will occur on November 18. Investors can expect to see the notes reflected in their CDS accounts by November 20, 2025.
The notes will be listed on the Nairobi Securities Exchange (NSE) and will rank equally with the company’s existing unsecured obligations, ensuring a regulated and transparent investment process.
How to Invest
Investors can apply online through EABL’s official portal: https://eablmtn.e-offer.app.
Steps:
1. Review the offer terms on the portal.
2. Ensure you have a valid CDSC account.
3. Submit your application and upload proof of payment via EFT or bank transfer.
4. Receive updates on your application status via email or SMS.
Alternatively, physical application forms are available from authorized agents or Image Registrars Limited offices.
Advisors, Trustees, and Key Partners
Arrangers & Placing Agents: Absa Bank Kenya PLC and Absa Securities Limited
Sponsoring Stockbroker, Registrar & Calculation Agent: Absa Securities Limited
Note Trustee: Image Registrars Limited
Legal Counsel: MTC Trust & Corporate Services Limited
Reporting Accountants: Coulson Harney LLP (Bowmans Kenya) and PricewaterhouseCoopers LLP
Interest payments will be made semi-annually, subject to a 15% withholding tax, with exemptions or reduced rates applicable under certain treaties.
This bond marks another strategic milestone for EABL, which has consistently demonstrated financial discipline and market confidence even in challenging economic times.
“We remain focused on delivering long-term value to our shareholders and supporting the region’s economic growth,” added Karuku.
With its solid market presence and trusted brand heritage, EABL’s latest offering could become one of the most talked-about corporate bonds of 2025 — and a potential golden opportunity for Kenyan investors seeking stable returns in a regulated environment.
