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Safcom to drop ksh4bn bond to finance dividends - come again?
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Wa_ithaka
#1 Posted : Wednesday, August 18, 2010 1:01:12 PM
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Joined: 1/7/2010
Posts: 1,279
Location: nbi
Ati Safcom is going to issue a 4bn bond to pay for dividends?

http://af.reuters.com/ar...ws/idAFJOE67G0I520100817
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muganda
#2 Posted : Wednesday, August 18, 2010 1:06:12 PM
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Joined: 9/15/2006
Posts: 3,906
Last year they went to the market to raise 12b in three tranches. Each tranche was supposed to be 5b, if I recall correctly. This should just be the 2nd of the 3 tranches.

Nothing untoward...
Results or last tranche announced here: http://uk.reuters.com/ar...le/idUKL233027920091102


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Wa_ithaka
#3 Posted : Wednesday, August 18, 2010 1:08:25 PM
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Kwani they don't have cash to pauy for divitend?
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slykat
#4 Posted : Wednesday, August 18, 2010 1:15:29 PM
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I guess it is a borrowers market and even those with cash may wish to take advantage of the low rates.
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qw25041985
#5 Posted : Wednesday, August 18, 2010 1:16:50 PM
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Joined: 5/9/2010
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A bond for dividends ,since when. I dnt think its for dividends. Thats absurd .
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Scubidu
#6 Posted : Wednesday, August 18, 2010 2:33:11 PM
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Location: Nairobi
Not exactly absurd. That's what they did last year. There was a temporary deficiency in cash last year Q4 and as you recall the dividend was paid after they issued the bond.
“We are the middle children of history man, no purpose or place. We have no great war, no great depression. Our great war is a spiritual war, our great depression is our lives!" – Tyler Durden
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kyt
#7 Posted : Wednesday, August 18, 2010 2:58:48 PM
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Joined: 11/7/2007
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nkt.
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